Geode Capital Management LLC boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,809,127 shares of the specialty chemicals company’s stock after buying an additional 135,529 shares during the period. Geode Capital Management LLC’s holdings in PPG Industries were worth $592,859,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in PPG Industries by 19.9% during the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after buying an additional 2,521,004 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of PPG Industries by 306.2% in the fourth quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock valued at $727,340,000 after purchasing an additional 5,351,103 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of PPG Industries by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock valued at $644,537,000 after purchasing an additional 26,793 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of PPG Industries by 39.4% in the third quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company’s stock valued at $493,542,000 after purchasing an additional 1,326,619 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of PPG Industries by 15.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,946,145 shares of the specialty chemicals company’s stock valued at $414,779,000 after purchasing an additional 535,095 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on PPG. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Royal Bank Of Canada increased their target price on shares of PPG Industries from $114.00 to $119.00 and gave the company a “sector perform” rating in a report on Thursday, April 16th. Jefferies Financial Group lowered their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a report on Monday, May 11th. Finally, BNP Paribas Exane increased their target price on shares of PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Five equities 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, the company currently has a consensus rating of “Hold” and a consensus target price of $121.79.
PPG Industries Price Performance
PPG opened at $113.05 on Friday. The firm has a market cap of $25.20 billion, a P/E ratio of 16.13, a PEG ratio of 1.65 and a beta of 1.06. The firm has a 50-day moving average of $107.36 and a 200 day moving average of $108.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43.
PPG Industries (NYSE:PPG – Get Free Report) last posted 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. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts expect that PPG Industries, Inc. will post 7.93 EPS for the current year.
PPG Industries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, May 11th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, May 11th. This represents a $2.84 annualized dividend and a yield of 2.5%. PPG Industries’s dividend payout ratio is presently 40.51%.
About PPG Industries
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.
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