Public Employees Retirement System of Ohio Purchases New Position in PPG Industries, Inc. $PPG

Key Points

• Public Employees Retirement System of Ohio purchased 127,764 shares of PPG Industries worth approximately $15.5 million, joining other institutional investors that have recently built positions. Institutions collectively own 81.86% of the company.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year and above estimates, but earnings per share of $2.23 slightly missed the $2.25 consensus. The stock opened at $114.06, while analysts maintain an average “Hold” rating and a $126 price target.
• PPG raised its quarterly dividend from $0.71 to $0.74 per share, equivalent to a $2.96 annualized payout and a 2.6% yield.

Public Employees Retirement System of Ohio purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 127,764 shares of the specialty chemicals company's stock, valued at approximately $15,496,000. Public Employees Retirement System of Ohio owned about 0.06% of PPG Industries as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of PPG Industries during the second quarter valued at approximately $26,000. Resources Management Corp CT ADV raised its position in 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 valued at $26,000 after buying an additional 225 shares during the last quarter. Quarry LP bought a new position in PPG Industries during the 3rd quarter valued at $26,000. Keating Financial Advisory Services Inc. bought a new position in PPG Industries during the 2nd quarter valued at $28,000. Finally, Silvant Capital Management LLC purchased a new position in PPG Industries during the 2nd quarter worth $30,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Down 0.1%

NYSE PPG opened at $114.06 on Monday. The business's fifty day moving average is $116.77 and its 200-day moving average is $113.60. 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 stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.66 and a beta of 1.07. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.02). The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. PPG Industries's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts predict that PPG Industries, Inc. will post 7.88 EPS for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 10th. This is an increase from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's dividend payout ratio (DPR) is 42.41%.

Analyst Ratings Changes

Several brokerages have recently commented on PPG. Weiss Ratings upgraded shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Citigroup cut their price target on shares of PPG Industries from $125.00 to $121.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. BMO Capital Markets dropped their target price on shares of PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $126.00.

About PPG Industries

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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