Fri Sep 20 09:11:12 UTC 2024: ## HSBC Boosts PPG Industries Stake, Institutional Investors Show Interest in Specialty Chemicals

**New York, NY -** HSBC Holdings PLC increased its stake in PPG Industries, Inc. (NYSE: PPG) by 1.5% in the second quarter, according to the company’s latest SEC filing. The investment firm now owns 592,290 shares of the specialty chemicals company, valued at $74,530,000.

This move by HSBC comes amidst a flurry of activity from other large investors. Tower Research Capital LLC TRC significantly grew its stake in PPG Industries by 49.5% in the fourth quarter, while Vest Financial LLC increased its position by 28.9% in the second quarter. BDF Gestion and the State Board of Administration of Florida Retirement System also entered or expanded their holdings in PPG Industries.

Vanguard Group Inc., a major institutional investor, boosted its stake in PPG Industries by 17.2% in the first quarter, demonstrating a strong belief in the company’s future. In total, 81.86% of PPG Industries’ stock is owned by institutional investors and hedge funds, indicating significant confidence in the company’s performance.

PPG Industries opened at $129.19 on Friday with a market cap of $30.30 billion. The company recently announced a quarterly dividend of $0.68 per share, representing a 2.11% yield.

Analysts’ opinions on PPG Industries are mixed. While some, like Citigroup and UBS Group, have adjusted their price targets, others, like KeyCorp and BMO Capital Markets, have expressed continued optimism. Overall, the stock currently has an average rating of “Moderate Buy” with a consensus price target of $151.08.

PPG Industries manufactures and distributes paints, coatings, and specialty materials globally. The company operates through two segments: Performance Coatings and Industrial Coatings. PPG Industries offers a wide range of products, including coatings, adhesives, sealants, and advanced technologies for various industries.

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