Eurizon Capital SGR S.p.A. Buys New Shares in PPG Industries, Inc. $PPG

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in PPG Industries in the fourth quarter, buying 124,714 shares worth about $12.8 million.
• PPG continues to draw heavy institutional interest, with hedge funds and asset managers holding 81.86% of the company’s stock.
• PPG reported strong quarterly results, beating earnings and revenue estimates, while analysts currently rate the stock Hold on average with a consensus price target of $121.79.

Eurizon Capital SGR S.p.A. bought a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 124,714 shares of the specialty chemicals company's stock, valued at approximately $12,805,000. Eurizon Capital SGR S.p.A. owned 0.06% of PPG Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of PPG Industries by 19.9% in 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 during the period. Pzena Investment Management LLC lifted its stake 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 buying an additional 5,351,103 shares during the period. First Eagle Investment Management LLC lifted its stake 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 buying an additional 26,793 shares during the period. Geode Capital Management LLC lifted its stake in shares of PPG Industries by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 5,809,127 shares of the specialty chemicals company's stock valued at $592,859,000 after buying an additional 135,529 shares during the period. Finally, Franklin Resources Inc. lifted its stake 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 buying an additional 1,326,619 shares during the period. Institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PPG. Evercore increased their target price on shares of PPG Industries from $112.00 to $128.00 in a research note on Wednesday, February 18th. UBS Group increased their price target on shares of PPG Industries from $110.00 to $116.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Royal Bank Of Canada increased their price target on shares of PPG Industries from $114.00 to $119.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 16th. Finally, Citigroup increased their price target on shares of PPG Industries from $113.00 to $114.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, PPG Industries has an average rating of "Hold" and a consensus price target of $121.79.

PPG Industries Stock Performance

NYSE:PPG opened at $113.05 on Monday. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $25.20 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.65 and a beta of 1.06. The firm has a 50-day moving average price of $107.36 and a 200 day moving average price of $108.58.

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 (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the prior year, the business posted $1.72 earnings per share. The company's quarterly revenue was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts anticipate that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. PPG Industries's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG - Free Report).

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.