76,000 Shares in PPG Industries, Inc. $PPG Bought by Strs Ohio

Key Points

• Strs Ohio acquired a new stake in PPG Industries, purchasing 76,000 shares valued at approximately $8.31 million in the first quarter.
• Analysts have increased their price targets for PPG Industries, with ranges now from $115.00 to $135.00, reflecting positive market sentiment.
• PPG Industries recently increased its quarterly dividend to $0.71 per share, representing a 2.6% dividend yield, up from $0.68 previously.

Strs Ohio acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 76,000 shares of the specialty chemicals company's stock, valued at approximately $8,311,000.

A number of other institutional investors have also recently made changes to their positions in PPG. Park Square Financial Group LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new position in shares of PPG Industries in the first quarter valued at approximately $26,000. CVA Family Office LLC grew its holdings in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of PPG Industries in the 1st quarter valued at approximately $30,000. Finally, Financial Connections Group Inc. increased its position in shares of PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Citigroup increased their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. UBS Group increased their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. 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 report on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.82.

PPG Industries Stock Up 0.9%

Shares of PPG Industries stock traded up $1.02 during trading hours on Thursday, hitting $109.12. The company had a trading volume of 1,715,188 shares, compared to its average volume of 1,455,720. The company's 50-day moving average is $111.08 and its two-hundred day moving average is $110.05. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The company has a market cap of $24.63 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The company's revenue for the quarter was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were paid a dividend of $0.71 per share. The ex-dividend date was Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.6%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio (DPR) is currently 64.40%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.