Strs Ohio Has $10.97 Million Stock Position in PPG Industries, Inc. $PPG

Strs Ohio lifted its stake in PPG Industries, Inc. (NYSE:PPG) by 26.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,403 shares of the specialty chemicals company’s stock after acquiring an additional 20,403 shares during the period. Strs Ohio’s holdings in PPG Industries were worth $10,966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC grew its stake in shares of PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in PPG Industries in the 1st quarter worth $26,000. Gladwyn Financial Advisors Inc. acquired a new stake in PPG Industries in the 2nd quarter worth $31,000. Headlands Technologies LLC acquired a new stake in PPG Industries in the 1st quarter worth $30,000. Finally, Financial Connections Group Inc. grew its position in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PPG shares. Bank of America decreased their target price on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Mizuho decreased their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Royal Bank Of Canada lifted their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Citigroup decreased their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Finally, Wells Fargo & Company decreased their price target on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.30.

PPG Industries Price Performance

Shares of PPG stock opened at $97.78 on Friday. The stock’s fifty day simple moving average is $105.65 and its 200 day simple moving average is $109.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04. The firm has a market cap of $22.07 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 2.13 and a beta of 1.16. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $130.05.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. PPG Industries’s quarterly revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be given a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. PPG Industries’s payout ratio is 64.40%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.