Swiss Life Asset Management Ltd Cuts Position in PPG Industries, Inc. $PPG

Key Points

• Swiss Life Asset Management cut its PPG Industries stake by 15.9% in the fourth quarter, selling 10,322 shares and leaving it with 54,643 shares worth about $5.6 million.
• PPG Industries posted better-than-expected quarterly results, with EPS of $1.83 on revenue of $3.93 billion, both topping analyst estimates. Revenue rose 6.7% year over year.
• Analysts currently have a Hold consensus on PPG, with a consensus target price of $121.79. The stock also offers a quarterly dividend of $0.71 per share, implying a 2.7% yield.

Swiss Life Asset Management Ltd reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,643 shares of the specialty chemicals company's stock after selling 10,322 shares during the quarter. Swiss Life Asset Management Ltd's holdings in PPG Industries were worth $5,599,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after purchasing an additional 339 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of PPG Industries by 31.4% during the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company's stock worth $421,000 after purchasing an additional 920 shares in the last quarter. Empowered Funds LLC boosted its position in shares of PPG Industries by 6.1% in the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company's stock worth $2,882,000 after buying an additional 1,526 shares during the period. Woodline Partners LP boosted its position in shares of PPG Industries by 40.7% in the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company's stock worth $2,143,000 after buying an additional 5,667 shares during the period. Finally, Cresset Asset Management LLC grew its stake in shares of PPG Industries by 6.2% in the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company's stock valued at $722,000 after buying an additional 371 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. UBS Group boosted their price target on PPG Industries from $110.00 to $116.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Zacks Research upgraded shares of PPG Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, January 23rd. 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. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Finally, Wells Fargo & Company lowered their price target on shares of PPG Industries from $135.00 to $130.00 and set an "overweight" rating for the company in a report on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of "Hold" and a consensus target price of $121.79.

PPG Industries Price Performance

PPG stock opened at $105.51 on Thursday. The stock's 50 day moving average is $107.25 and its two-hundred day moving average is $107.82. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The company has a market capitalization of $23.52 billion, a PE ratio of 15.05, a P/E/G ratio of 1.55 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 released its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $3.93 billion during the quarter, compared to analysts' expectations of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The business's revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts predict that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, May 11th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, May 11th. PPG Industries's dividend payout ratio (DPR) is currently 40.51%.

Insider Activity

In other news, CFO Vincent J. Morales sold 78,095 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $131.00, for a total transaction of $10,230,445.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Anne M. Foulkes sold 3,594 shares of PPG Industries stock in a transaction dated 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 trade represents a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by 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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