PPG Industries, Inc. $PPG Shares Acquired by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC boosted its PPG Industries stake by 6.6% in the fourth quarter, buying an additional 98,430 shares and ending with 1.6 million shares worth about $164 million.
• PPG beat quarterly expectations, reporting EPS of $1.83 versus $1.78 expected and revenue of $3.93 billion versus $3.85 billion estimated, while revenue rose 6.7% year over year.
• The company declared a quarterly dividend of $0.71 per share, payable June 12, which annualizes to $2.84 per share for a 2.7% yield.

ProShare Advisors LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,600,226 shares of the specialty chemicals company's stock after acquiring an additional 98,430 shares during the quarter. ProShare Advisors LLC owned approximately 0.71% of PPG Industries worth $163,959,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Nvest Wealth Strategies Inc. purchased a new position in PPG Industries in the 4th quarter valued at $505,000. First Eagle Investment Management LLC grew its position in 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 buying an additional 703,549 shares during the last quarter. Dimensional Fund Advisors LP grew its position in PPG Industries by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company's stock valued at $317,421,000 after buying an additional 43,702 shares during the last quarter. Wellington Management Group LLP grew its position in 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 buying an additional 2,521,004 shares during the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in PPG Industries in the 3rd quarter valued at $16,245,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 3,594 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $124.61, for a total transaction of $447,848.34. Following the sale, the vice president owned 15,641 shares in the company, valued at approximately $1,949,025.01. This trade represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

PPG Industries Price Performance

PPG Industries stock opened at $103.71 on Tuesday. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The firm's 50-day simple moving average is $106.54 and its 200 day simple moving average is $107.81. The firm has a market capitalization of $23.12 billion, a PE ratio of 14.79, a P/E/G ratio of 1.50 and a beta of 1.06.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the previous year, the firm earned $1.72 EPS. The business'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. On average, equities research analysts predict 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. Investors of record on Monday, May 11th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. PPG Industries's dividend payout ratio (DPR) is 40.51%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Sanford C. Bernstein boosted their target price on shares of PPG Industries from $123.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $114.00 to $119.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Mizuho boosted their target price on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, Evercore boosted their target price on shares of PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, PPG Industries presently has a consensus rating of "Hold" and a consensus target price 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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