PPG Industries, Inc. $PPG Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 13.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,601 shares of the specialty chemicals company’s stock after buying an additional 14,347 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of PPG Industries worth $12,466,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Norges Bank purchased a new position in PPG Industries in the second quarter valued at $362,412,000. Holocene Advisors LP raised its position in PPG Industries by 342.8% in the 2nd quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock valued at $192,109,000 after purchasing an additional 1,307,468 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of 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 buying an additional 971,799 shares during the period. Burgundy Asset Management Ltd. acquired a new position in shares of PPG Industries during the second quarter worth about $93,719,000. Finally, State Street Corp increased its stake in shares of PPG Industries by 6.3% during the second quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after buying an additional 749,081 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE PPG opened at $131.34 on Friday. The company has a fifty day moving average of $109.80 and a two-hundred day moving average of $106.23. The company has a market capitalization of $29.47 billion, a PE ratio of 18.92, a P/E/G ratio of 1.97 and a beta of 1.16. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $133.43. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.77 billion. PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.2%. PPG Industries’s dividend payout ratio (DPR) is 40.92%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Royal Bank Of Canada lifted their price objective on shares of PPG Industries from $109.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 29th. Bank of America dropped their target price on PPG Industries from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Jefferies Financial Group lifted their price target on PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $124.79.

Insiders Place Their Bets

In related news, CFO Vincent J. Morales sold 29,672 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $125.00, for a total value of $3,709,000.00. Following the completion of the sale, the chief financial officer owned 28,439 shares in the company, valued at $3,554,875. This represents a 51.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chancey E. Hagerty sold 2,250 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total transaction of $260,077.50. Following the sale, the vice president owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. This represents a 20.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,122 shares of company stock worth $4,541,078 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.