Nan Fung Trinity HK Ltd. Acquires 31,300 Shares of PPG Industries, Inc. $PPG

Nan Fung Trinity HK Ltd. boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,100 shares of the specialty chemicals company’s stock after purchasing an additional 31,300 shares during the quarter. PPG Industries comprises 3.4% of Nan Fung Trinity HK Ltd.’s investment portfolio, making the stock its 5th largest holding. Nan Fung Trinity HK Ltd. owned 0.11% of PPG Industries worth $28,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PPG. Wellington Management Group LLP increased its stake in PPG Industries by 5.6% in the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after purchasing an additional 592,152 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of PPG Industries by 21.2% during the second quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after buying an additional 971,799 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock worth $524,627,000 after buying an additional 1,766,518 shares during the last quarter. Dimensional Fund Advisors LP increased its position in PPG Industries by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after acquiring an additional 105,973 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in PPG Industries by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock valued at $298,992,000 after acquiring an additional 85,891 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

PPG Industries stock opened at $95.90 on Wednesday. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $130.05. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.47. The business has a fifty day moving average of $103.43 and a two-hundred day moving average of $108.82. The company has a market cap of $21.52 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PPG shares. Citigroup decreased their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Mizuho cut their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Zacks Research lowered shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday. Wells Fargo & Company dropped their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $123.18.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.