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

Key Points

• California State Teachers Retirement System increased its PPG Industries stake by 12,647% in the second quarter, acquiring nearly 59.8 million additional shares and bringing its reported ownership to 27.12%.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, but earnings of $2.23 per share slightly missed estimates. The company expects fiscal 2026 EPS of $7.70–$8.10.
• PPG raised its quarterly dividend from $0.71 to $0.74 per share, equivalent to an annualized yield of about 2.7%. Analysts maintain a consensus “Hold” rating with an average price target of $126.

California State Teachers Retirement System boosted its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 12,647.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,284,284 shares of the specialty chemicals company's stock after purchasing an additional 59,811,353 shares during the period. California State Teachers Retirement System owned about 27.12% of PPG Industries worth $7,311,881,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PPG. Meeder Asset Management Inc. purchased a new position in shares of PPG Industries in the second quarter valued at $26,000. Resources Management Corp CT ADV boosted its position in shares of PPG Industries by 900.0% in the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 225 shares in the last quarter. Quarry LP acquired a new stake in PPG Industries in the 3rd quarter valued at about $26,000. Keating Financial Advisory Services Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at about $28,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in PPG Industries during the 2nd quarter valued at about $29,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Price Performance

NYSE:PPG opened at $109.80 on Wednesday. The firm has a market cap of $24.41 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The company's 50-day moving average is $115.43 and its two-hundred day moving average is $112.67. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.PPG Industries's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts expect that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.7%. This is an increase from PPG Industries's previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries's dividend payout ratio (DPR) is 42.41%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PPG shares. UBS Group cut their target price on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Citigroup dropped their price objective on shares of PPG Industries from $125.00 to $121.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Wall Street Zen downgraded PPG Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. BMO Capital Markets cut their price objective on PPG Industries from $140.00 to $138.00 and set an "outperform" rating for the company in a research report on Monday, July 6th. Finally, Royal Bank Of Canada reduced their target price on PPG Industries from $129.00 to $122.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of "Hold" and an average price target of $126.00.

PPG Industries Company 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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