Vanguard Trims PPG Industries Stake to 12.4%
Ticker: PPG · Form: SC 13G/A · Filed: 2024-01-10T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**Vanguard slightly reduced its stake in PPG Industries to 12.4%.**
AI Summary
The Vanguard Group, a major investment firm, filed an amended SC 13G/A on January 10, 2024, updating its ownership in PPG Industries Inc. As of December 29, 2023, Vanguard reported beneficial ownership of 29,081,623 shares of PPG Industries' Common Stock, representing 12.4% of the company. This filing indicates a slight decrease in Vanguard's percentage ownership from a previous filing, which could signal a minor rebalancing of their portfolio.
Why It Matters
This matters to investors because Vanguard is a significant institutional holder, and changes in their position can sometimes signal shifts in their investment thesis or broader market trends for PPG Industries.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate significant risk to the company or its stock.
Analyst Insight
A smart investor would note Vanguard's continued significant, albeit slightly reduced, stake in PPG Industries, suggesting it remains a core holding for a major institutional investor. This could be a signal for long-term stability rather than a short-term trading opportunity.
Key Numbers
- 29,081,623 — Shares Beneficially Owned (The total number of PPG Industries Common Stock shares owned by The Vanguard Group as of December 29, 2023.)
- 12.4% — Percentage of Class (The percentage of PPG Industries' Common Stock beneficially owned by The Vanguard Group, indicating a significant institutional stake.)
- 693506107 — CUSIP Number (The unique identification number for PPG Industries Inc.'s Common Stock.)
Key Players & Entities
- The Vanguard Group (company) — reporting person and institutional investor
- PPG Industries Inc (company) — subject company whose securities are being reported
- 29,081,623 shares (dollar_amount) — total number of shares beneficially owned by Vanguard
- 12.4% (dollar_amount) — percentage of class beneficially owned by Vanguard
- December 29, 2023 (date) — date of event requiring the filing
- January 10, 2024 (date) — date the SC 13G/A was filed
Forward-Looking Statements
- Vanguard will maintain a significant, but potentially fluctuating, stake in PPG Industries Inc. as part of its diversified portfolio management. (The Vanguard Group) — high confidence, target: Next 12 months
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, which is filed by institutional investors (like Vanguard) to report their beneficial ownership of 5% or more of a company's stock. The '/A' indicates it's an amendment to a previously filed statement, updating the ownership information, as seen with Vanguard's updated stake in PPG Industries Inc. as of December 29, 2023.
Who is the reporting person in this filing and what is their role?
The reporting person in this filing is The Vanguard Group, identified by CIK 0000102909. They are a large investment management company that beneficially owns shares of PPG Industries Inc. and are required to disclose their holdings.
What specific security is being reported in this filing?
The specific security being reported is the Common Stock of PPG Industries Inc., identified by CUSIP Number 693506107. This is the class of securities for which The Vanguard Group is reporting its beneficial ownership.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 29, 2023. This is the snapshot date for the ownership information reported by The Vanguard Group regarding PPG Industries Inc.
What rule under the Securities Exchange Act of 1934 is this Schedule 13G/A filed under?
This Schedule 13G/A is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the checked box in the filing. This rule typically applies to institutional investors who acquire beneficial ownership in the ordinary course of business and not with the purpose or effect of changing or influencing control of the issuer.
Filing Stats: 808 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2024-01-10 10:16:56
Filing Documents
- tv0009-ppgindustriesinc.htm (SC 13G/A) — 11KB
- 0001104659-24-002856.txt ( ) — 13KB
(a) - Name of Issuer
Item 1(a) - Name of Issuer: PPG Industries Inc
(b) - Address of Issuer's Principal Executive Offices
Item 1(b) - Address of Issuer's Principal Executive Offices: One PPG Place Pittsburgh, PA 15272
(a) - Name of Person Filing
Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930
(b) – Address of Principal Business Office or, if none, residence
Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355
(c) – Citizenship
Item 2(c) – Citizenship: Pennsylvania
(d) - Title of Class of Securities
Item 2(d) - Title of Class of Securities: Common Stock
(e) - CUSIP Number
Item 2(e) - CUSIP Number 693506107
- Type of Filing
Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).
- Ownership
Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.
- Ownership of Five Percent or Less of a Class
Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following
- Ownership of More Than Five Percent on Behalf of Another Person
Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable
- Identification and Classification of Members of Group
Item 8 - Identification and Classification of Members of Group: Not applicable
- Notice of Dissolution of Group
Item 9 - Notice of Dissolution of Group: Not applicable
- Certification
Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: January 10, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration