Louisiana State Employees Retirement System Makes New Investment in PPG Industries, Inc. $PPG

Key Points

• Louisiana State Employees Retirement System bought a new stake in PPG Industries during the first quarter, purchasing 11,400 shares valued at about $1.22 million.
• PPG Industries reported better-than-expected quarterly results, with EPS of $1.83 versus the $1.78 estimate and revenue of $3.93 billion, up 6.7% year over year.
• The company paid a quarterly dividend of $0.71 per share, or $2.84 annually, which implies a yield of about 2.3%.

Louisiana State Employees Retirement System purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,400 shares of the specialty chemicals company's stock, valued at approximately $1,218,000.

Other hedge funds also recently made changes to their positions in the company. Nvest Wealth Strategies Inc. bought a new position in PPG Industries during the 4th quarter valued at about $505,000. Cooke & Bieler LP grew its stake in PPG Industries by 16.7% during the fourth quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company's stock worth $165,644,000 after buying an additional 231,537 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PPG Industries by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company's stock worth $317,421,000 after buying an additional 43,702 shares in the last quarter. Wellington Management Group LLP raised 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 valued at $1,593,443,000 after acquiring an additional 2,521,004 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of PPG Industries by 10.3% in the fourth quarter. Mather Group LLC. now owns 142,340 shares of the specialty chemicals company's stock valued at $14,584,000 after acquiring an additional 13,254 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Performance

PPG stock opened at $125.30 on Friday. The company has a 50 day moving average price of $113.12 and a 200 day moving average price of $111.91. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. The stock has a market capitalization of $27.93 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.83 and a beta of 1.05.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $3.93 billion during the quarter, compared to analysts' expectations of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts forecast that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, May 11th. PPG Industries's dividend payout ratio (DPR) is presently 40.51%.

Wall Street Analyst Weigh In

PPG has been the topic of a number of research analyst reports. Weiss Ratings upgraded PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. BMO Capital Markets lifted their price objective on PPG Industries from $135.00 to $140.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Royal Bank Of Canada restated a "sector perform" rating and issued a $119.00 target price on shares of PPG Industries in a research note on Wednesday, June 10th. Finally, Jefferies Financial Group cut their price target on PPG Industries from $125.00 to $116.00 and set a "hold" rating for the company in a report on Thursday, March 26th. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $124.40.

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.

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