Geode Capital Management LLC Acquires 135,529 Shares of PPG Industries, Inc. $PPG

Key Points

• Geode Capital Management increased its PPG Industries stake by 2.4% in the fourth quarter, buying 135,529 shares and bringing its total holding to 5.81 million shares valued at about $592.9 million.
• PPG Industries reported strong quarterly results, with EPS of $1.83 beating estimates and revenue of $3.93 billion topping expectations; revenue also rose 6.7% year over year.
• The company declared a quarterly dividend of $0.71 per share and currently offers a 2.5% annualized yield, while analysts maintain a consensus Hold rating with a target price of $121.79.

Geode Capital Management LLC grew its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,809,127 shares of the specialty chemicals company's stock after purchasing an additional 135,529 shares during the quarter. Geode Capital Management LLC owned approximately 2.59% of PPG Industries worth $592,859,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PPG. Pzena Investment Management LLC boosted 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 purchasing an additional 5,351,103 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PPG Industries by 19.9% in the 3rd 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 purchasing an additional 2,521,004 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of PPG Industries by 39.4% in the 3rd 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. First Eagle Investment Management LLC boosted its stake in shares of PPG Industries by 12.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company's stock valued at $658,391,000 after purchasing an additional 703,549 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of PPG Industries in the 3rd quarter valued at $70,096,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Up 0.2%

PPG Industries stock opened at $113.05 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The firm's fifty day moving average is $107.36 and its 200 day moving average is $108.49. The company has a market capitalization of $25.20 billion, a PE ratio of 16.13, a PEG ratio of 1.65 and a beta of 1.06.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the company earned $1.72 EPS. PPG Industries'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. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.93 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed 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 2.5%. PPG Industries's dividend payout ratio is presently 40.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PPG shares. Citigroup upped their price objective on shares of PPG Industries from $113.00 to $114.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Evercore upped their price objective on shares of PPG Industries from $112.00 to $128.00 in a research note on Wednesday, February 18th. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $135.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, April 10th. UBS Group upped their price objective 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.

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