First Eagle Investment Management LLC Has $644.54 Million Stake in PPG Industries, Inc. $PPG

Key Points

• First Eagle Investment Management increased its PPG Industries stake by 0.4% in the fourth quarter, bringing its holding to 6.29 million shares worth about $644.5 million.
• PPG Industries beat quarterly expectations, reporting EPS of $1.83 versus the $1.78 consensus and revenue of $3.93 billion, up 6.7% year over year.
• The company also announced a quarterly dividend of $0.71 per share, and analysts currently rate the stock a consensus “Hold” with an average price target of $121.79.

First Eagle Investment Management LLC grew its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,290,622 shares of the specialty chemicals company's stock after purchasing an additional 26,793 shares during the period. First Eagle Investment Management LLC owned about 2.80% of PPG Industries worth $644,537,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $26,000. Dorato Capital Management acquired a new position in shares of PPG Industries in the 4th quarter valued at about $26,000. Quarry LP acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $26,000. Root Financial Partners LLC bought a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of PPG Industries in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $108.02 on Tuesday. The business has a fifty day simple moving average of $107.86 and a 200 day simple moving average of $107.78. 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 capitalization of $24.08 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.60 and a beta of 1.06. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the company posted $1.72 earnings per share. PPG Industries's revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts expect that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced 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. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, May 11th. PPG Industries's dividend payout ratio is presently 40.51%.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 3,594 shares of the firm's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $124.61, for a total value of $447,848.34. Following the transaction, the vice president owned 15,641 shares in the company, valued at $1,949,025.01. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vincent J. Morales sold 78,095 shares of the firm's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $131.00, for a total value of $10,230,445.00. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PPG. Weiss Ratings reissued a "hold (c-)" rating on shares of PPG Industries in a research note on Wednesday, January 28th. Citigroup boosted their price target on PPG Industries from $113.00 to $114.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Evercore boosted their price target on PPG Industries from $112.00 to $128.00 in a research note on Wednesday, February 18th. BNP Paribas Exane boosted their price target on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Finally, Jefferies Financial Group lowered their price target 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 equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $121.79.

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.

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.