Cullen Capital Management LLC Has $39.57 Million Stock Holdings in PPG Industries, Inc. $PPG

Cullen Capital Management LLC cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 386,150 shares of the specialty chemicals company’s stock after selling 19,341 shares during the quarter. Cullen Capital Management LLC’s holdings in PPG Industries were worth $39,565,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PPG. Pzena Investment Management LLC lifted its stake in PPG Industries by 306.2% in the fourth quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock valued at $727,340,000 after acquiring an additional 5,351,103 shares during the last quarter. Wellington Management Group LLP lifted its stake in PPG Industries by 19.9% in the third 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 acquiring an additional 2,521,004 shares during the last quarter. Franklin Resources Inc. lifted its stake in PPG Industries by 48.9% in the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after acquiring an additional 2,295,118 shares during the last quarter. Norges Bank acquired a new stake in PPG Industries in the fourth quarter valued at approximately $209,355,000. Finally, Bank of Montreal Can lifted its stake in PPG Industries by 254.9% in the fourth quarter. Bank of Montreal Can now owns 1,334,707 shares of the specialty chemicals company’s stock valued at $136,754,000 after acquiring an additional 958,580 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings cut shares of PPG Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PPG Industries in a research note on Wednesday. Jefferies Financial Group reduced their target price on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $121.79.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $119.27 on Friday. The firm has a fifty day simple moving average of $109.55 and a 200-day simple moving average of $109.75. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The stock has a market capitalization of $26.59 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.73 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 for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the company earned $1.72 earnings per share. PPG Industries’s revenue for the quarter was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.92 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, May 11th. PPG Industries’s payout ratio is presently 40.51%.

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.