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

Nan Fung Trinity HK Ltd. grew its position in PPG Industries, Inc. (NYSE:PPG) by 14.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 248,100 shares of the specialty chemicals company’s stock after purchasing an additional 31,300 shares during the period. PPG Industries makes up 3.4% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 5th biggest position. Nan Fung Trinity HK Ltd.’s holdings in PPG Industries were worth $28,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. Wellington Management Group LLP grew its stake in PPG Industries by 5.6% in the 1st 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 acquiring an additional 592,152 shares during the last quarter. First Eagle Investment Management LLC raised its position in 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 acquiring an additional 971,799 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of PPG Industries by 58.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after purchasing an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PPG Industries by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after purchasing an additional 105,973 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PPG Industries by 3.2% in the first 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 purchasing an additional 85,891 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the subject of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Royal Bank Of Canada raised their price target on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Wells Fargo & Company cut their price target on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Evercore ISI reduced their price objective on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research report on Tuesday. Finally, Zacks Research lowered PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.18.

PPG Industries Trading Down 0.0%

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

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 24.17% and a net margin of 6.35%.The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared 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 is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 3.0%. PPG Industries’s payout ratio is 64.40%.

About PPG Industries

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.