Pictet Asset Management Holding SA Sells 4,392 Shares of PPG Industries, Inc. $PPG

Pictet Asset Management Holding SA cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 127,848 shares of the specialty chemicals company’s stock after selling 4,392 shares during the quarter. Pictet Asset Management Holding SA’s holdings in PPG Industries were worth $13,664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after purchasing an additional 339 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in PPG Industries by 31.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock valued at $421,000 after purchasing an additional 920 shares during the last quarter. Empowered Funds LLC boosted its position in PPG Industries by 6.1% in the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock valued at $2,882,000 after buying an additional 1,526 shares in the last quarter. Woodline Partners LP grew its stake in shares of PPG Industries by 40.7% during the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after buying an additional 5,667 shares during the last quarter. Finally, Cresset Asset Management LLC increased its holdings in shares of PPG Industries by 6.2% during the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock worth $722,000 after buying an additional 371 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PPG shares. Citigroup raised their price objective on PPG Industries from $114.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft increased their target price on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. BMO Capital Markets lifted their price target on PPG Industries from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Jefferies Financial Group dropped their price objective on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Finally, The Goldman Sachs Group reduced their target price on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $124.40.

PPG Industries Stock Up 2.2%

Shares of PPG opened at $125.30 on Friday. The stock’s 50-day moving average price is $112.85 and its two-hundred day moving average price is $111.81. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company has a market capitalization of $27.93 billion, a PE ratio of 17.87, a PEG ratio of 1.79 and a beta of 1.05. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s dividend payout ratio is currently 40.51%.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.