PPG Industries, Inc. $PPG Position Cut by Strs Ohio

Strs Ohio reduced its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.1% during the 1st quarter, Holdings Channel reports. The fund owned 140,374 shares of the specialty chemicals company’s stock after selling 6,008 shares during the quarter. Strs Ohio’s holdings in PPG Industries were worth $15,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of PPG Industries by 19.9% in the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after purchasing an additional 2,521,004 shares in the last quarter. State Street Corp raised its stake in shares of PPG Industries by 4.6% during the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock valued at $1,314,529,000 after purchasing an additional 565,523 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of PPG Industries by 5.4% during the first quarter. Pzena Investment Management LLC now owns 7,478,646 shares of the specialty chemicals company’s stock valued at $799,318,000 after purchasing an additional 379,879 shares in the last quarter. Franklin Resources Inc. lifted its holdings in PPG Industries by 48.9% in the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after purchasing an additional 2,295,118 shares during the period. Finally, First Eagle Investment Management LLC grew its position in PPG Industries by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock valued at $644,537,000 after buying an additional 26,793 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Jefferies Financial Group dropped their target price on PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. UBS Group upped their target price on PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Finally, Citigroup increased their price target on PPG Industries from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and an average price target of $124.40.

PPG Industries Price Performance

Shares of NYSE PPG opened at $125.30 on Friday. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $113.12 and a two-hundred day moving average of $111.91. The company has a market capitalization of $27.93 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.83 and a beta of 1.05.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the company posted $1.72 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts expect that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were given a $0.71 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.84 annualized dividend and a yield of 2.3%. PPG Industries’s payout ratio is 40.51%.

PPG Industries Profile

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.