Wellington Management Group LLP Has $1.22 Billion Stock Holdings in PPG Industries, Inc. $PPG

Key Points

• Wellington Management Group LLP increased its stake in PPG Industries by 5.6% during Q1, owning over 11 million shares valued at approximately $1.22 billion, indicating strong institutional interest in the company.
• PPG Industries reported earnings per share (EPS) of $2.22 for the last quarter, matching analysts' expectations, with revenue of $4.20 billion slightly above forecasts, although down 0.9% year-over-year.
• The company recently increased its quarterly dividend from $0.68 to $0.71, reflecting a commitment to return value to shareholders amidst a current dividend yield of 2.5%.

Wellington Management Group LLP boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,159,203 shares of the specialty chemicals company's stock after buying an additional 592,152 shares during the period. Wellington Management Group LLP owned about 4.92% of PPG Industries worth $1,220,259,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PPG. Park Square Financial Group LLC acquired a new stake in PPG Industries during the fourth quarter worth $26,000. Cheviot Value Management LLC acquired a new stake in PPG Industries during the first quarter worth $26,000. CVA Family Office LLC boosted its stake in PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 113 shares in the last quarter. Headlands Technologies LLC acquired a new stake in PPG Industries during the first quarter worth $30,000. Finally, Financial Connections Group Inc. lifted its holdings in shares of PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Trading Down 0.8%

NYSE:PPG traded down $0.8790 on Wednesday, hitting $111.9810. 1,091,508 shares of the stock were exchanged, compared to its average volume of 2,045,808. The stock has a market capitalization of $25.27 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.33 and a beta of 1.17. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The company's 50-day moving average price is $112.32 and its 200 day moving average price is $110.69.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. The firm had revenue of $4.20 billion during 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be given a $0.71 dividend. The ex-dividend date is Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is presently 64.40%.

Analyst Ratings Changes

PPG has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Citigroup increased their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One equities research 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's stock. According to MarketBeat.com, PPG Industries has a consensus rating of "Moderate Buy" and a consensus price target 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.