Legal & General Group Plc Trims Holdings in PPG Industries, Inc. $PPG

Key Points

• Legal & General Group Plc cut its PPG Industries stake by 5.6% in the fourth quarter, selling 88,661 shares and leaving it with about 1.5 million shares valued at roughly $153.6 million.
• Institutional ownership remains very high, with 81.86% of PPG stock held by institutions and hedge funds; several large investors recently increased their positions, including Wellington Management and Pzena Investment Management.
• PPG reported better-than-expected quarterly results, with EPS of $1.83 on revenue of $3.93 billion, and the company also declared a quarterly dividend of $0.71 per share, implying a 2.5% yield.

Legal & General Group Plc trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,499,297 shares of the specialty chemicals company's stock after selling 88,661 shares during the period. Legal & General Group Plc owned about 0.67% of PPG Industries worth $153,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in PPG Industries by 19.9% during the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company's stock worth $1,593,443,000 after acquiring an additional 2,521,004 shares during the period. Pzena Investment Management LLC grew its holdings in PPG Industries by 306.2% during the fourth quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company's stock worth $727,340,000 after acquiring an additional 5,351,103 shares during the period. First Eagle Investment Management LLC grew its holdings in PPG Industries by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company's stock worth $644,537,000 after acquiring an additional 26,793 shares during the period. Franklin Resources Inc. grew its holdings in PPG Industries by 39.4% during the third quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company's stock worth $493,542,000 after acquiring an additional 1,326,619 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in PPG Industries by 15.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,946,145 shares of the specialty chemicals company's stock worth $414,779,000 after acquiring an additional 535,095 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. KeyCorp reissued a "sector weight" rating on shares of PPG Industries in a report on Thursday, January 29th. UBS Group raised their price objective on PPG Industries from $110.00 to $116.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Weiss Ratings reissued a "hold (c)" rating on shares of PPG Industries in a report on Monday, May 11th. Jefferies Financial Group dropped their price objective on PPG Industries from $125.00 to $116.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Finally, Mizuho raised their price objective on PPG Industries from $115.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $121.79.

PPG Industries Stock Performance

NYSE PPG opened at $113.01 on Thursday. The company has a market cap of $25.19 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. The stock's 50 day simple moving average is $106.93 and its 200-day simple moving average is $108.34. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17.

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

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, May 11th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, May 11th. PPG Industries's dividend payout ratio (DPR) is 40.51%.

PPG Industries 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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