Hsbc Holdings PLC Has $68.74 Million Holdings in PPG Industries, Inc. $PPG

Hsbc Holdings PLC decreased its position in PPG Industries, Inc. (NYSE:PPG) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 604,482 shares of the specialty chemicals company’s stock after selling 14,495 shares during the period. Hsbc Holdings PLC’s holdings in PPG Industries were worth $68,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its stake in PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. Cheviot Value Management LLC bought a new stake in shares of PPG Industries in the first quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of PPG Industries in the first quarter valued at about $30,000. Gladwyn Financial Advisors Inc. acquired a new position in shares of PPG Industries in the second quarter valued at about $31,000. Finally, Vermillion & White Wealth Management Group LLC increased its position in PPG Industries by 100.7% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 137 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on PPG shares. UBS Group decreased their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Bank of America reduced their price target on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Citigroup dropped their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 6th. JPMorgan Chase & Co. upped their target price on PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $123.58.

PPG Industries Trading Up 0.2%

Shares of PPG stock opened at $100.04 on Friday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $130.05. The stock’s fifty day moving average price is $100.29 and its two-hundred day moving average price is $107.80. 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 company has a market cap of $22.45 billion, a PE ratio of 22.68, a P/E/G ratio of 2.13 and a beta of 1.19.

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

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. 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.