Oregon Public Employees Retirement Fund Has $2.71 Million Stake in PPG Industries, Inc. $PPG

Oregon Public Employees Retirement Fund boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 31.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,796 shares of the specialty chemicals company’s stock after acquiring an additional 6,202 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in PPG Industries were worth $2,711,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock valued at $3,328,936,000 after purchasing an additional 192,560 shares in the last quarter. State Street Corp raised its position in PPG Industries by 6.3% in the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock valued at $1,436,074,000 after buying an additional 749,081 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in PPG Industries by 21.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock valued at $632,482,000 after acquiring an additional 971,799 shares in the last quarter. Norges Bank acquired a new position in PPG Industries during the 2nd quarter worth approximately $362,412,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 1.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,775,676 shares of the specialty chemicals company’s stock worth $315,734,000 after acquiring an additional 41,406 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PPG shares. Bank of America cut their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. raised their price objective on PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, November 21st. UBS Group dropped their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Evercore ISI decreased their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average target price of $122.54.

PPG Industries Price Performance

NYSE:PPG opened at $108.09 on Tuesday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $124.74. The firm has a market capitalization of $24.26 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 3.18 and a beta of 1.17. The stock’s 50 day moving average price is $100.79 and its two-hundred day moving average price is $105.95. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the firm earned $2.13 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Monday, November 10th 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 was Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

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.