New York State Teachers Retirement System Has $20.04 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

New York State Teachers Retirement System boosted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,236 shares of the specialty chemicals company's stock after acquiring an additional 6,772 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of PPG Industries worth $20,037,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after acquiring an additional 756,937 shares during the period. Bell Asset Management Ltd acquired a new position in PPG Industries in the fourth quarter worth about $6,955,000. Wealthfront Advisers LLC lifted its stake in PPG Industries by 256.2% during the fourth quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company's stock worth $2,838,000 after purchasing an additional 17,090 shares during the period. Raymond James Financial Inc. bought a new position in PPG Industries during the fourth quarter worth about $82,071,000. Finally, Meridian Wealth Partners LLC acquired a new stake in PPG Industries during the fourth quarter valued at approximately $15,558,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of recent research reports. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Wells Fargo & Company upped their price target on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday. UBS Group increased their price objective on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Citigroup boosted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $130.67.

PPG Industries Stock Up 1.9%

Shares of NYSE:PPG opened at $118.65 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. The firm has a market cap of $26.93 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.44 and a beta of 1.16. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company's 50-day moving average price is $110.85 and its two-hundred day moving average price is $112.36.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. PPG Industries's revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 earnings per share. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a $0.68 dividend. The ex-dividend date was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.29%. PPG Industries's payout ratio is 58.24%.

About PPG Industries

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.

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