Illinois Municipal Retirement Fund Purchases 88,352 Shares of PPG Industries, Inc. $PPG

Illinois Municipal Retirement Fund grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 555.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,254 shares of the specialty chemicals company’s stock after purchasing an additional 88,352 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in PPG Industries were worth $11,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PPG. Capital Advisors Ltd. LLC raised its position in PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Cheviot Value Management LLC bought a new stake in shares of PPG Industries during the 1st quarter valued at $26,000. Gladwyn Financial Advisors Inc. purchased a new stake in shares of PPG Industries in the 2nd quarter worth $31,000. Headlands Technologies LLC bought a new position in PPG Industries in the 1st quarter worth $30,000. Finally, Financial Connections Group Inc. lifted its position in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PPG. Bank of America reduced their price target on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. UBS Group cut their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a report on Thursday, October 16th. Finally, Royal Bank Of Canada increased their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $124.30.

PPG Industries Stock Down 0.3%

Shares of PPG opened at $95.99 on Tuesday. The stock has a market capitalization of $21.54 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $130.05. The business’s 50 day simple moving average is $103.71 and its 200-day simple moving average is $108.87. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04.

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. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the company posted $2.13 EPS. The business’s revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, November 10th. PPG Industries’s dividend payout ratio is presently 64.40%.

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.