Public Employees Retirement System of Ohio Invests $15.50 Million in PPG Industries, Inc. $PPG

Public Employees Retirement System of Ohio acquired a new position in PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 127,764 shares of the specialty chemicals company’s stock, valued at approximately $15,496,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of PPG Industries in the second quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. bought a new position in PPG Industries in the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC purchased a new position in PPG Industries in the 2nd quarter valued at approximately $30,000. Quarry LP purchased a new position in PPG Industries in the 3rd quarter valued at approximately $26,000. Finally, Resources Management Corp CT ADV raised its holdings in PPG Industries by 900.0% during the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 225 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of analyst reports. Mizuho raised their price target on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. UBS Group dropped their price objective on PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and lifted their target price for the company from $127.00 to $134.00 in a report on Friday, July 17th. Finally, Citigroup decreased their price target on PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, PPG Industries presently has an average rating of “Hold” and a consensus target price of $126.00.

PPG Industries Stock Down 0.1%

Shares of NYSE:PPG opened at $114.06 on Monday. The firm has a fifty day moving average price of $116.77 and a two-hundred day moving average price of $113.60. The company has a market cap of $25.36 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the previous year, the company posted $2.22 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts anticipate that PPG Industries, Inc. will post 7.88 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be paid a $0.74 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio is currently 42.41%.

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.