Oregon Public Employees Retirement Fund Purchases 6,202 Shares of PPG Industries, Inc. $PPG

Oregon Public Employees Retirement Fund lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 31.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,796 shares of the specialty chemicals company’s stock after purchasing an additional 6,202 shares during the period. Oregon Public Employees Retirement Fund’s holdings in PPG Industries were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PPG. Vanguard Group Inc. boosted its position in shares of PPG Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock valued at $3,328,936,000 after acquiring an additional 192,560 shares during the period. State Street Corp raised its position in shares of PPG Industries by 6.3% in the second quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock valued at $1,436,074,000 after buying an additional 749,081 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of PPG Industries by 21.2% in the second quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock valued at $632,482,000 after buying an additional 971,799 shares during the period. Norges Bank bought a new position in PPG Industries during the 2nd quarter worth $362,412,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in PPG Industries by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,775,676 shares of the specialty chemicals company’s stock valued at $315,734,000 after acquiring an additional 41,406 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $108.09 on Tuesday. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $124.74. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. The company has a market cap of $24.26 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 3.18 and a beta of 1.17. The firm has a 50 day simple moving average of $100.79 and a 200 day simple moving average of $105.95.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.04. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. PPG Industries’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 10th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, November 10th. PPG Industries’s payout ratio is currently 64.40%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Sanford C. Bernstein decreased their price target on PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. UBS Group decreased their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Bank of America reduced their price target on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Berenberg Bank lowered their price objective on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. Finally, Citigroup raised their target price on PPG Industries from $116.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $122.54.

About PPG Industries

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.