Hsbc Holdings PLC Buys 8,554 Shares of PPG Industries, Inc. (NYSE:PPG)

Hsbc Holdings PLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 592,290 shares of the specialty chemicals company’s stock after acquiring an additional 8,554 shares during the quarter. Hsbc Holdings PLC’s holdings in PPG Industries were worth $74,530,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in PPG Industries by 49.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 28,345 shares of the specialty chemicals company’s stock worth $4,239,000 after buying an additional 9,384 shares in the last quarter. Vest Financial LLC boosted its position in shares of PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after acquiring an additional 75,620 shares in the last quarter. BDF Gestion bought a new position in PPG Industries in the second quarter valued at approximately $3,452,000. State Board of Administration of Florida Retirement System raised its position in PPG Industries by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after purchasing an additional 22,079 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after purchasing an additional 4,222,402 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $129.19 on Friday. The stock has a market cap of $30.30 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.69 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company’s fifty day moving average is $125.79 and its 200 day moving average is $130.94.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is currently 45.95%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PPG. Citigroup decreased their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. UBS Group boosted their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. KeyCorp reduced their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Barclays lowered their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Finally, BMO Capital Markets cut their target price on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

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.