Equity Investment Corp Grows Stock Holdings in PPG Industries, Inc. $PPG

Equity Investment Corp increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.4% during the fourth quarter, HoldingsChannel.com reports. 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 investment portfolio, making the stock its 27th largest position. Equity Investment Corp’s holdings in PPG Industries were worth $101,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PPG. Pzena Investment Management LLC grew its holdings in shares of PPG Industries by 306.2% during the fourth quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after buying an additional 5,351,103 shares during the last quarter. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 2,521,004 shares in the last quarter. Franklin Resources Inc. boosted its holdings in PPG Industries by 48.9% in the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after purchasing an additional 2,295,118 shares in the last quarter. Norges Bank purchased a new stake in PPG Industries in the 4th quarter valued at approximately $209,355,000. Finally, First Eagle Investment Management LLC boosted its holdings 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 purchasing an additional 703,549 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG stock opened at $118.48 on Friday. The firm has a 50 day moving average of $109.29 and a 200-day moving average of $109.68. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The company has a market cap of $26.41 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.65 and a beta of 1.06.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the firm posted $1.72 EPS. The company’s quarterly 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. As a group, equities analysts expect that PPG Industries, Inc. will post 7.92 EPS 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. Investors of record on Monday, May 11th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, May 11th. PPG Industries’s payout ratio is currently 40.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PPG shares. Citigroup lifted their price objective on PPG Industries from $113.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Evercore lifted their price objective on PPG Industries from $112.00 to $128.00 in a report on Wednesday, February 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $119.00 price objective on shares of PPG Industries in a report on Wednesday. Finally, Weiss Ratings lowered PPG Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 2nd. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average 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.