PPG Industries, Inc. $PPG Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 497,026 shares of the specialty chemicals company's stock after purchasing an additional 24,095 shares during the period. California State Teachers Retirement System owned approximately 0.22% of PPG Industries worth $60,284,284 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in PPG Industries in the 2nd quarter valued at $2,856,392,000. Pzena Investment Management LLC purchased a new stake in shares of PPG Industries in the second quarter worth $946,964,000. Bank of New York Mellon Corp purchased a new position in shares of PPG Industries in the second quarter worth $318,870,000. Bank of America Corp DE purchased a new position in PPG Industries during the second quarter valued at $278,965,000. Finally, Franklin Resources Inc. boosted its holdings in shares of 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 buying an additional 2,295,118 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Mizuho raised their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Bank of America upgraded PPG Industries from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $127.00 to $134.00 in a report on Friday, July 17th. Weiss Ratings raised PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Wall Street Zen cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, KeyCorp assumed coverage on PPG Industries in a research report on Friday. They set an "overweight" rating and a $133.00 target price for the company. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, PPG Industries has an average rating of "Hold" and a consensus price target of $126.44.

PPG Industries Price Performance

NYSE:PPG traded down $0.42 during trading hours on Tuesday, reaching $104.83. 559,140 shares of the company traded hands, compared to its average volume of 1,995,025. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The stock has a market cap of $23.30 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.71 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. The firm's 50-day moving average is $113.95 and its 200-day moving average is $112.12.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.37 billion. During the same quarter last year, the company posted $2.22 EPS. The firm's revenue 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. Equities research analysts expect that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 10th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.8%. This is an increase from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's payout ratio is 42.41%.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.

PPG's portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.

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