Sterling Capital Management LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG – Free Report) by 43.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,571 shares of the specialty chemicals company’s stock after selling 5,749 shares during the quarter. Sterling Capital Management LLC’s holdings in PPG Industries were worth $809,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of PPG. Wellington Management Group LLP lifted its position 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 valued at $1,593,443,000 after buying an additional 2,521,004 shares in the last quarter. State Street Corp increased its position in shares of PPG Industries by 4.6% in the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after acquiring an additional 565,523 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of PPG Industries by 306.2% in the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock valued at $727,340,000 after acquiring an additional 5,351,103 shares during the period. Franklin Resources Inc. lifted its holdings in shares of PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after acquiring an additional 2,295,118 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of PPG Industries by 0.4% during the 4th 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 acquiring an additional 26,793 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
Analysts Set New Price Targets
PPG has been the subject of several recent research reports. Mizuho increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group decreased their target price on PPG Industries from $125.00 to $116.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. BNP Paribas Exane increased their target price on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their target price on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PPG Industries in a research report on Wednesday, June 10th. Six research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $124.40.
PPG Industries Trading Up 1.1%
NYSE PPG opened at $122.65 on Thursday. The company has a market capitalization of $27.34 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company’s fifty day moving average price is $112.56 and its two-hundred day moving average price is $111.66.
PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts predict that PPG Industries, Inc. will post 7.92 earnings per share for the current fiscal year.
PPG Industries Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, May 11th. PPG Industries’s payout ratio is 40.51%.
PPG Industries Company 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.
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