Wellington Management Group LLP Decreases Position in PPG Industries, Inc. $PPG

Wellington Management Group LLP decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 17.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,612,746 shares of the specialty chemicals company’s stock after selling 1,760,099 shares during the period. Wellington Management Group LLP owned about 3.87% of PPG Industries worth $1,044,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of PPG. Quarry LP purchased a new stake in PPG Industries during the 3rd quarter worth about $26,000. Resources Management Corp CT ADV boosted its stake in shares of PPG Industries by 900.0% in the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 225 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of PPG Industries during the second quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new position in shares of PPG Industries during the second quarter worth about $28,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of PPG Industries during the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG stock opened at $114.06 on Friday. The business has a 50 day moving average price of $116.77 and a 200 day moving average price of $113.70. The stock has a market cap of $25.36 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The business had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the company earned $2.22 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts anticipate that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 10th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio (DPR) is currently 42.41%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PPG. UBS Group decreased their price target on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Finally, BMO Capital Markets lowered their target price on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research note on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, PPG Industries presently has an average rating of “Hold” and an average target price of $126.00.

PPG Industries Company 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.