Wellington Management Group LLP Trims Stake in PPG Industries, Inc. $PPG

Wellington Management Group LLP cut its position in PPG Industries, Inc. (NYSE:PPG) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,612,746 shares of the specialty chemicals company’s stock after selling 1,760,099 shares during the quarter. Wellington Management Group LLP’s holdings in PPG Industries were worth $1,044,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in PPG Industries in the second quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. purchased a new position in shares of PPG Industries during the second quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of PPG Industries during the second quarter worth approximately $29,000. Silvant Capital Management LLC acquired a new position in shares of PPG Industries in the 2nd quarter valued at $30,000. Finally, Quarry LP acquired a new position in shares of PPG Industries in the 3rd quarter valued at $26,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank Of Canada reduced their price target on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. UBS Group reduced their target price on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. BMO Capital Markets decreased 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. Finally, Mizuho increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $126.00.

PPG Industries Trading Up 0.5%

NYSE:PPG opened at $114.06 on Friday. 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 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock’s 50 day simple moving average is $116.77 and its 200-day simple moving average is $113.70. The firm has a market cap of $25.36 billion, a P/E ratio of 16.34, a PEG ratio of 1.65 and a beta of 1.07.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the business earned $2.22 earnings per share. PPG Industries’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 analysts anticipate that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 10th. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s payout ratio is currently 42.41%.

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.