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

New York State Teachers Retirement System boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 13.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 186,558 shares of the specialty chemicals company’s stock after acquiring an additional 21,681 shares during the quarter. New York State Teachers Retirement System’s holdings in PPG Industries were worth $19,939,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nvest Wealth Strategies Inc. purchased a new position in shares of PPG Industries in the fourth quarter worth approximately $505,000. Cooke & Bieler LP increased its holdings in PPG Industries by 16.7% during the fourth quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock valued at $165,644,000 after buying an additional 231,537 shares during the last quarter. Wellington Management Group LLP raised its position in PPG Industries by 19.9% in the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after acquiring an additional 2,521,004 shares during the period. Equity Investment Corp boosted its stake in shares of PPG Industries by 3.4% during the 4th quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock worth $101,981,000 after acquiring an additional 32,337 shares during the last quarter. Finally, Mather Group LLC. grew its position in shares of PPG Industries by 10.3% during the 4th quarter. Mather Group LLC. now owns 142,340 shares of the specialty chemicals company’s stock valued at $14,584,000 after acquiring an additional 13,254 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PPG shares. UBS Group upped their price objective on PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. BNP Paribas Exane boosted their price target on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. The Goldman Sachs Group reduced their price target on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, BMO Capital Markets lifted their price objective on PPG Industries from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $124.40.

PPG Industries Trading Down 0.0%

Shares of PPG Industries stock opened at $125.30 on Friday. The company has a market capitalization of $27.93 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.83 and a beta of 1.05. 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 fifty day moving average of $113.12 and a 200 day moving average of $111.91. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43.

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

PPG Industries Announces Dividend

The firm also recently declared 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 of this dividend was Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.3%. PPG Industries’s payout ratio is currently 40.51%.

About PPG Industries

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.