5 Industrial Stocks To Buy According To Billionaire Ray Dalio

3. PPG Industries, Inc. (NYSE:PPG)

Bridgewater Associates’ Stake Value: $51.9 million

Percentage of Bridgewater Associates’ 13F Portfolio: 0.28%

Number of Hedge Fund Holders: 30

PPG Industries, Inc. (NYSE:PPG) is an industrial specialty materials and coatings provider headquartered in the United States which provides services for several heavy-duty segments. These include fleet and aircraft maintenance alongside bridge repairs and metal fabrication.

Mr. Dalio’s Bridgewater Associates owned 363,554 PPG Industries, Inc. (NYSE:PPG) shares worth $51.9 million and 0.28% of its portfolio by the end of Q3 2021. During the same time period, 30 of 867 hedge funds polled by Insider Monkey had holdings in the company.

For its Q3, PPG Industries, Inc. (NYSE:PPG) earned $4.37 billion in revenue and $1.69 in non-GAAP EPS, beating estimates on both counts. Mizuho raised its price target to $184 from $180 in October 2021, stating that despite slow automotive recoveries, it was optimistic for the company’s future.

PPG Industries, Inc. (NYSE:PPG)’s largest shareholder is Jean-Marie Eveillard’s First Eagle Investment Management who owns  1 million shares worth $154 million.

Madison Funds mentioned PPG Industries, Inc. (NYSE:PPG) in its 3Q 2021 investor letter. It outlined that:

“Regarding business activity, we have had companies report disruptions to current economic results from the aforementioned logistical challenges. The coatings industry and PPG have seen raw material shortages and escalating cost inflation from Gulf Coast petrochemical suppliers, while also experiencing lower demand from auto production customers due to semiconductor shortages. We are encouraged by the pricing escalators that PPG is enacting, which bodes well for recouping this year’s cost increases as the supply chain normalizes.”