PPG Industries, Inc. $PPG Holdings Decreased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management trimmed its PPG Industries stake by 4.3% in the fourth quarter, selling 23,171 shares and leaving it with 520,625 shares valued at about $54.3 million.
• PPG reported better-than-expected quarterly results, posting EPS of $1.83 versus the $1.78 estimate and revenue of $3.93 billion versus $3.85 billion expected, with revenue up 6.7% year over year.
• The company declared a quarterly dividend of $0.71 per share, payable June 12, which works out to an annualized yield of about 2.6%.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,625 shares of the specialty chemicals company's stock after selling 23,171 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of PPG Industries worth $54,327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPG. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of PPG Industries by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,133 shares of the specialty chemicals company's stock worth $2,883,000 after acquiring an additional 705 shares in the last quarter. Garner Asset Management Corp bought a new stake in shares of PPG Industries during the 4th quarter worth about $293,000. Nicholas Hoffman & Company LLC. boosted its stake in shares of PPG Industries by 11.9% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 16,673 shares of the specialty chemicals company's stock worth $1,708,000 after acquiring an additional 1,779 shares in the last quarter. Allegheny Financial Group boosted its stake in shares of PPG Industries by 12.1% during the 4th quarter. Allegheny Financial Group now owns 78,968 shares of the specialty chemicals company's stock worth $8,091,000 after acquiring an additional 8,540 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of PPG Industries during the 4th quarter worth about $973,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $109.52 on Friday. The business has a 50 day moving average price of $108.44 and a 200 day moving average price of $107.70. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The company has a market cap of $24.41 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.59 and a beta of 1.06. 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 (NYSE:PPG - Get Free Report) last announced 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. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The firm's revenue for the quarter 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 predict that PPG Industries, Inc. will post 7.92 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, May 11th will be paid 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 2.6%. PPG Industries's dividend payout ratio is presently 40.51%.

Analysts Set New Price Targets

Several analysts have recently issued reports on PPG shares. KeyCorp reiterated a "sector weight" rating on shares of PPG Industries in a research note on Thursday, January 29th. Sanford C. Bernstein upped their price target on PPG Industries from $123.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft upped their price target on PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Mizuho upped their price target on PPG Industries from $115.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, BNP Paribas Exane upped their price target on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of "Hold" and an average target price of $121.79.

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 3,594 shares of the company's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $124.61, for a total value of $447,848.34. Following the completion of the transaction, the vice president owned 15,641 shares of the company's stock, valued at $1,949,025.01. This represents a 18.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vincent J. Morales sold 78,095 shares of the company's stock in a transaction that occurred on 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 owned by corporate insiders.

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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