New York State Teachers Retirement System Acquires 21,681 Shares of PPG Industries, Inc. $PPG

by · The Markets Daily

New York State Teachers Retirement System increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,558 shares of the specialty chemicals company’s stock after acquiring an additional 21,681 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of PPG Industries worth $19,939,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dorato Capital Management bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $26,000. Resources Management Corp CT ADV raised its stake in PPG Industries by 900.0% during the fourth 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 stake in PPG Industries in the third quarter worth $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of PPG Industries in the fourth quarter worth $30,000. Finally, DV Equities LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Mizuho raised 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PPG Industries from $120.00 to $130.00 in a report on Friday, March 27th. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, UBS Group increased their price target on shares of PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $124.40.

View Our Latest Analysis on PPG Industries

PPG Industries Price Performance

NYSE PPG opened at $125.30 on Friday. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The stock has a 50-day moving average of $113.12 and a 200 day moving average of $111.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. The company has a market capitalization of $27.93 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.83 and a beta of 1.05.

PPG Industries (NYSE:PPG – Get Free Report) last posted its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the prior year, the business earned $1.72 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were issued a $0.71 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.84 annualized dividend and a yield of 2.3%. PPG Industries’s dividend payout ratio (DPR) is currently 40.51%.

PPG Industries Profile

(Free Report)

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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