PPG Industries, Inc. $PPG Shares Acquired by Equity Investment Corp

Key Points

• Equity Investment Corp boosted its stake in PPG Industries by 3.4% in the fourth quarter, bringing its holdings to 995,323 shares valued at about $102 million.
• PPG Industries reported quarterly earnings of $1.83 per share, topping Wall Street estimates, while revenue rose 6.7% year over year to $3.93 billion.
• The company declared a quarterly dividend of $0.71 per share and said it will pay on June 12, implying an annualized yield of about 2.4%.

Equity Investment Corp increased its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 995,323 shares of the specialty chemicals company's stock after acquiring an additional 32,337 shares during the period. PPG Industries makes up about 2.1% of Equity Investment Corp's holdings, making the stock its 27th largest holding. Equity Investment Corp owned about 0.44% of PPG Industries worth $101,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nvest Wealth Strategies Inc. acquired a new stake in shares of PPG Industries in the fourth quarter valued at $505,000. First Eagle Investment Management LLC raised its stake in shares of PPG Industries by 12.7% in the third 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 acquiring an additional 703,549 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PPG Industries by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company's stock valued at $317,421,000 after acquiring an additional 43,702 shares in the last quarter. Cooke & Bieler LP raised its stake in PPG Industries by 16.7% in the fourth quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company's stock valued at $165,644,000 after buying an additional 231,537 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in PPG Industries by 19.9% in the third 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 buying an additional 2,521,004 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 4.9%

PPG opened at $118.48 on Friday. The business's 50-day simple moving average is $109.29 and its 200-day simple moving average is $109.68. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The stock has a market capitalization of $26.41 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.65 and a beta of 1.06.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business's 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. Analysts anticipate that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, May 11th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.4%. PPG Industries's dividend payout ratio (DPR) is currently 40.51%.

Analysts Set New Price Targets

A number of research firms have weighed in on PPG. Weiss Ratings cut PPG Industries from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, June 2nd. Jefferies Financial Group cut their price target on PPG Industries from $125.00 to $116.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th. Deutsche Bank Aktiengesellschaft raised their price target on PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. BNP Paribas Exane raised their price target on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Finally, Mizuho raised their price target on PPG Industries from $115.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Five 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 company presently has an average rating of "Hold" and a consensus price target of $121.79.

About PPG Industries

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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