Commonwealth Equity Services LLC Reduces Stock Position in PPG Industries, Inc. $PPG

Commonwealth Equity Services LLC reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,943 shares of the specialty chemicals company’s stock after selling 11,072 shares during the period. Commonwealth Equity Services LLC’s holdings in PPG Industries were worth $4,400,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PPG. Pzena Investment Management LLC boosted 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 purchasing an additional 5,351,103 shares during the period. Wellington Management Group LLP grew its position in shares of 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 worth $1,593,443,000 after buying an additional 2,521,004 shares during the last quarter. Franklin Resources Inc. grew its position in shares of 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 worth $716,256,000 after buying an additional 2,295,118 shares during the last quarter. Norges Bank bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $209,355,000. Finally, Bank of Montreal Can grew its position in shares of PPG Industries by 254.9% in the 4th quarter. Bank of Montreal Can now owns 1,334,707 shares of the specialty chemicals company’s stock worth $136,754,000 after buying an additional 958,580 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Evercore boosted their price objective on shares of PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. Citigroup boosted their price objective on shares of PPG Industries from $113.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. BNP Paribas Exane boosted their price objective on shares of PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Finally, Wells Fargo & Company decreased their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $121.79.

PPG Industries Trading Up 0.2%

Shares of NYSE PPG opened at $114.08 on Monday. The firm’s 50 day moving average price is $108.47 and its 200-day moving average price is $109.14. The company has a market cap of $25.43 billion, a PE ratio of 16.27, a P/E/G ratio of 1.66 and a beta of 1.06. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61.

PPG Industries (NYSE:PPG) last issued its earnings results 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. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 7.93 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, May 11th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, May 11th. PPG Industries’s dividend payout ratio (DPR) is currently 40.51%.

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.