Cooke & Bieler LP Has $165.64 Million Stake in PPG Industries, Inc. $PPG

Key Points

• Cooke & Bieler LP increased its stake in PPG Industries by 16.7% in the fourth quarter, ending with 1.62 million shares valued at about $165.6 million. The position now represents roughly 1.7% of the fund’s holdings.
• PPG Industries continues to draw interest from institutional investors, with several hedge funds and asset managers also adding shares. Overall, 81.86% of the stock is owned by institutions and hedge funds.
• The company recently reported better-than-expected quarterly earnings and revenue, and it announced a quarterly dividend of $0.71 per share. Analysts currently rate the stock a consensus “Hold” with a price target of $121.79.

Cooke & Bieler LP boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 16.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,616,672 shares of the specialty chemicals company's stock after purchasing an additional 231,537 shares during the period. PPG Industries accounts for approximately 1.7% of Cooke & Bieler LP's holdings, making the stock its 12th largest holding. Cooke & Bieler LP owned approximately 0.72% of PPG Industries worth $165,644,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PPG. Brighton Jones LLC increased its holdings in PPG Industries by 9.1% during 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 increased its stake in shares of 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 buying an additional 920 shares during the period. Empowered Funds LLC increased its stake in shares of PPG Industries by 6.1% in the 1st 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 during the period. Woodline Partners LP increased its stake in shares of PPG Industries by 40.7% in the 1st quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company's stock valued at $2,143,000 after buying an additional 5,667 shares during the period. Finally, Cresset Asset Management LLC increased its stake in shares of PPG Industries by 6.2% in the 2nd quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company's stock valued at $722,000 after buying an additional 371 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PPG. Weiss Ratings restated a "hold (c)" rating on shares of PPG Industries in a research report on Monday, May 11th. UBS Group raised their target price on shares of PPG Industries from $110.00 to $116.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Evercore lifted their price objective on PPG Industries from $112.00 to $128.00 in a research note on Wednesday, February 18th. Finally, Jefferies Financial Group decreased their price objective on PPG Industries from $125.00 to $116.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $121.79.

PPG Industries Stock Performance

PPG stock opened at $107.90 on Monday. The business's 50-day moving average price is $106.45 and its two-hundred day moving average price is $108.03. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The firm has a market cap of $24.05 billion, a PE ratio of 15.39, a P/E/G ratio of 1.57 and a beta of 1.06. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.05. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 7.93 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, May 11th will be issued 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 2.6%. PPG Industries's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.