California State Teachers Retirement System Has $65.23 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

California State Teachers Retirement System increased its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 546,042 shares of the specialty chemicals company's stock after purchasing an additional 28,934 shares during the period. California State Teachers Retirement System owned approximately 0.24% of PPG Industries worth $65,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PUREfi Wealth LLC acquired a new position in PPG Industries in the 4th quarter worth $279,000. Vanguard Group Inc. boosted its stake in PPG Industries by 2.6% in 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 purchasing an additional 756,937 shares during the period. Lebenthal Global Advisors LLC acquired a new position in PPG Industries in the 4th quarter worth $409,000. Union Bancaire Privee UBP SA acquired a new position in PPG Industries in the 4th quarter worth $2,543,000. Finally, FourThought Financial Partners LLC acquired a new position in PPG Industries in the 4th quarter worth $458,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America reaffirmed a "neutral" rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $128.42.

PPG Industries Stock Performance

NYSE:PPG traded up $0.69 during mid-day trading on Thursday, hitting $111.24. The stock had a trading volume of 1,491,940 shares, compared to its average volume of 1,823,719. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 2.19 and a beta of 1.20. The company's 50 day simple moving average is $106.30 and its 200 day simple moving average is $114.35. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. PPG Industries's revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.87 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.45%. PPG Industries's dividend payout ratio is currently 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.