South Dakota Investment Council Boosts Stock Position in PPG Industries, Inc. $PPG

South Dakota Investment Council increased its position in PPG Industries, Inc. (NYSE:PPG) by 393.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,554 shares of the specialty chemicals company’s stock after acquiring an additional 63,433 shares during the quarter. South Dakota Investment Council’s holdings in PPG Industries were worth $9,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. Wellington Management Group LLP increased its stake in shares of PPG Industries by 5.6% in the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after purchasing an additional 592,152 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of PPG Industries by 58.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after buying an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PPG Industries by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock worth $321,147,000 after buying an additional 105,973 shares during the period. Charles Schwab Investment Management Inc. increased its stake in PPG Industries by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock worth $298,992,000 after buying an additional 85,891 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PPG Industries by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock worth $237,810,000 after buying an additional 60,301 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $97.78 on Monday. The firm has a market cap of $22.07 billion, a PE ratio of 22.17, a PEG ratio of 2.13 and a beta of 1.16. The stock has a 50 day moving average of $105.65 and a 200 day moving average of $109.11. The company has a current ratio of 1.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the firm earned $2.13 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PPG shares. Wells Fargo & Company lowered their price objective on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday. Royal Bank Of Canada lifted their target price on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. UBS Group lowered their price target on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a report on Friday. Finally, Mizuho reduced their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.30.

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.