Is PPG Industries (PPG) A Wise Investment Choice?
ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Value Strategy outperformed its Russell 1000 Value Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in 10 of 11 sectors in which it was invested for the quarter. The strongest contributions came from the IT, health care, industrials, and materials sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge Investments Large Cap Value Strategy, in its Q4 2021 investor letter, mentioned PPG Industries, Inc. (NYSE:PPG) and discussed its stance on the firm. Founded in 1883, PPG Industries, Inc. (NYSE:PPG) is a Pittsburgh, Pennsylvania-based paints, coatings, and specialty materials supplier with a $31.6 billion market capitalization, and is currently spearheaded by its CEO, Michael H. McGarry. PPG Industries, Inc. (NYSE:PPG) delivered a -22.21% return since the beginning of the year, while its 12-month returns are down by -9.40%. The stock closed at $134.14 per share on April 06, 2022.
Here is what ClearBridge Investments Large Cap Value Strategy has to say about PPG Industries, Inc. (NYSE:PPG) in its Q4 2021 investor letter:
“To help better navigate an inflationary environment, we added to PPG Industries, a high-quality cyclical coatings company we find attractively valued. The company has implemented aggressive pricing to offset raw material inflation, and should also benefit from the recovery in miles driven and air travel, which should support its most profitable segments, aerospace and automotive refinish coatings.”
Our calculations show that PPG Industries, Inc. (NYSE:PPG) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. PPG Industries, Inc. (NYSE:PPG) was in 34 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 30 funds in the previous quarter. PPG Industries, Inc. (NYSE:PPG) delivered a -21.38% return in the past 3 months.
In January 2022, we also shared another hedge fund’s views on PPG Industries, Inc. (NYSE:PPG) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.