PPG Industries, Inc. $PPG Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in PPG Industries, Inc. (NYSE:PPG) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,502 shares of the specialty chemicals company’s stock after selling 14,892 shares during the period. California Public Employees Retirement System owned approximately 0.18% of PPG Industries worth $42,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Pzena Investment Management LLC boosted its stake in PPG Industries by 306.2% during the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock valued at $727,340,000 after purchasing an additional 5,351,103 shares in the last quarter. Franklin Resources Inc. increased its position in shares of PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after purchasing an additional 2,295,118 shares during the period. Norges Bank bought a new stake in shares of PPG Industries in the 4th quarter worth $209,355,000. Bank of New York Mellon Corp raised its stake in shares of PPG Industries by 85.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,507,399 shares of the specialty chemicals company’s stock worth $267,991,000 after buying an additional 1,156,078 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of PPG Industries by 254.9% in the fourth quarter. Bank of Montreal Can now owns 1,334,707 shares of the specialty chemicals company’s stock valued at $136,754,000 after buying an additional 958,580 shares during the period. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and raised their target price for the company from $127.00 to $134.00 in a research note on Friday. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Finally, BMO Capital Markets dropped their target price on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $126.13.

PPG Industries Stock Performance

PPG opened at $115.71 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The firm has a market cap of $25.79 billion, a PE ratio of 16.51, a P/E/G ratio of 1.71 and a beta of 1.05. The business has a fifty day simple moving average of $114.94 and a 200-day simple moving average of $113.01. 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 announced its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. PPG Industries’s revenue for the quarter was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities analysts predict that PPG Industries, Inc. will post 7.94 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 10th. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio is presently 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.