Strs Ohio Takes Position in PPG Industries, Inc. $PPG

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 purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 76,000 shares of the specialty chemicals company's stock, valued at approximately $8,311,000.

Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in shares of PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock valued at $27,311,000 after buying an additional 1,697 shares in the last quarter. Clear Creek Financial Management LLC purchased a new position in shares of PPG Industries in the 1st quarter valued at approximately $240,000. Principal Financial Group Inc. raised its position in shares of PPG Industries by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock valued at $33,129,000 after purchasing an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC raised its position in shares of PPG Industries by 311.2% in the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock valued at $838,000 after purchasing an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of PPG Industries by 966.3% in the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock valued at $97,000 after purchasing an additional 802 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. 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. 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. 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. 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. 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 issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.82.

PPG Industries Stock Performance

PPG opened at $110.79 on Friday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $25.00 billion, a PE ratio of 25.12, a P/E/G ratio of 2.31 and a beta of 1.14. The firm has a 50 day moving average of $111.78 and a two-hundred day moving average of $110.14.

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

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio is 64.40%.

PPG Industries 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.

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