Texas Permanent School Fund Corp Sells 9,084 Shares of PPG Industries, Inc. $PPG

Texas Permanent School Fund Corp decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 36.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,986 shares of the specialty chemicals company’s stock after selling 9,084 shares during the period. Texas Permanent School Fund Corp’s holdings in PPG Industries were worth $1,818,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Capital Advisors Ltd. LLC grew its stake in shares of PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Gladwyn Financial Advisors Inc. bought a new stake in PPG Industries in the second quarter worth $31,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of PPG Industries by 100.7% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 137 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of PPG Industries by 184.0% during the second quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 184 shares in the last quarter. Finally, Addison Advisors LLC raised its position in shares of PPG Industries by 1,515.8% in the 2nd quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 288 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Sanford C. Bernstein reduced their price objective on shares of PPG Industries from $129.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. 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. JPMorgan Chase & Co. increased their price objective on PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Mizuho dropped their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Citigroup upped their price target on shares of PPG Industries from $116.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. One investment 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. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Hold” and an average price target of $122.54.

PPG Industries Trading Up 0.7%

Shares of PPG opened at $103.38 on Tuesday. The stock has a market capitalization of $23.20 billion, a PE ratio of 23.44, a P/E/G ratio of 2.82 and a beta of 1.16. The company’s fifty day moving average is $99.82 and its 200 day moving average is $106.66. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $124.74.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 10th were given a dividend of $0.71 per share. The ex-dividend date was Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. PPG Industries’s dividend payout ratio is 64.40%.

PPG Industries 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.