Hotchkis & Wiley Capital Management LLC Purchases New Position in PPG Industries, Inc. $PPG

Key Points

• Hotchkis & Wiley Capital Management LLC purchased over 1.16 million shares of PPG Industries, valued at approximately $127.15 million, representing a 0.51% ownership stake in the company.
• PPG Industries has recently declared a quarterly dividend increase to $0.71 from the previous $0.68, with a dividend yield of 2.5% and a payout ratio of 64.40%.
• Analysts have mixed opinions on PPG Industries, with price target increases from several firms, including UBS and Mizuho, while JPMorgan has a neutral stance with a lower price target.

Hotchkis & Wiley Capital Management LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,162,800 shares of the specialty chemicals company's stock, valued at approximately $127,152,000. Hotchkis & Wiley Capital Management LLC owned 0.51% of PPG Industries at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PPG. Kovitz Investment Group Partners LLC lifted its position in PPG Industries by 482.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock valued at $518,132,000 after purchasing an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in PPG Industries by 815.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock valued at $362,074,000 after purchasing an additional 2,700,018 shares in the last quarter. Pzena Investment Management LLC purchased a new position in PPG Industries during the first quarter valued at $105,349,000. Nuveen LLC purchased a new position in PPG Industries during the first quarter valued at $79,881,000. Finally, GAMMA Investing LLC lifted its position in PPG Industries by 11,737.2% during the first quarter. GAMMA Investing LLC now owns 724,553 shares of the specialty chemicals company's stock valued at $79,230,000 after purchasing an additional 718,432 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 1.8%

Shares of PPG traded down $2.0910 during mid-day trading on Monday, reaching $112.1790. 1,161,618 shares of the company's stock traded hands, compared to its average volume of 2,015,079. The stock has a market cap of $25.32 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.36 and a beta of 1.17. The stock's 50-day moving average is $112.53 and its two-hundred day moving average is $110.63. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting analysts' consensus estimates of $2.22. The firm had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be issued a $0.71 dividend. The ex-dividend date is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. PPG Industries's dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PPG. Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Citigroup boosted their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Mizuho boosted their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. UBS Group boosted their price objective on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.