MFS Amends PPG Industries Stake; Signals Continued Institutional Interest

TL;DR

**MFS updated its PPG stake, showing continued institutional ownership.**

AI Summary

Massachusetts Financial Services Company (MFS) filed an amended SC 13G/A on February 9, 2024, indicating a change in their beneficial ownership of PPG Industries Inc. common stock as of December 29, 2023. This filing, Amendment No. 9, updates their previous disclosures, signaling that MFS continues to be a significant institutional investor in PPG Industries. For investors, this matters because MFS is a large asset manager, and their continued or adjusted stake can be seen as a vote of confidence or a shift in their investment strategy regarding PPG.

Why It Matters

This filing shows that a major institutional investor, Massachusetts Financial Services Company, is still actively managing its position in PPG Industries, which can influence market perception and trading activity.

Risk Assessment

Risk Level: low — This filing is a routine update from an institutional investor and does not indicate any immediate significant risk to the company or its shareholders.

Analyst Insight

Investors should note that MFS, a significant institutional player, is maintaining or adjusting its position in PPG. While this filing doesn't disclose the exact percentage or number of shares, it confirms their ongoing involvement. Smart investors might look for the full details of the share count in the complete filing to understand the magnitude of MFS's current stake and compare it to previous filings to gauge their sentiment.

Key Players & Entities

• Massachusetts Financial Services Company (company) — the reporting person filing the SC 13G/A
• PPG Industries Inc. (company) — the issuer whose common stock is being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• February 9, 2024 (date) — the filing date of the SC 13G/A
• Amendment No. 9 (number) — the specific amendment number of this filing

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 15KB
• 0000912938-24-000213.txt ( ) — 17KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 9 ) * PPG INDUSTRIES INC. (Name of Issuer) Common Stock (Title of Class of Securities) 693506107 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 693506107 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Massachusetts Financial Services Company ("MFS") 04-2747644 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] Not Applicable 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 7,156,085 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 8,002,668 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,002,668 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES Not Applicable 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.4% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer PPG INDUSTRIES INC. (b) Address of Issuer's Principal Executive Offices One PPG Place, Pittsburgh, PA 15272 Item 2. (a) Name of Person Filing Massachusetts Financial Services Company (b) Address of Principal Business Office or, if None, Residence 111 Huntington Avenue, Boston, MA 02199 (c) Citizenship Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 693506107 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 8,002,668 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities (b) Percent of Class: 3.4% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 7,156,085 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 8,002,668 (iv) shared power to dispose or to direct the disposition of 0 Item 5. Ownership of Five Percent or Less of 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 five percent of the class of securities, check the following: [ X ] Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not Applicable Item 8. Identification and Classification of Members of the Group. Not Applicable Item 9. Notice of Dissolution of Group. Not Applicable Item 10. Certification. By signing be