Teacher Retirement System of Texas Has $3.71 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Teacher Retirement System of Texas trimmed its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 43.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 33,930 shares of the specialty chemicals company's stock after selling 25,846 shares during the quarter. Teacher Retirement System of Texas' holdings in PPG Industries were worth $3,710,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Revisor Wealth Management LLC raised its stake in shares of PPG Industries by 95.8% during the first quarter. Revisor Wealth Management LLC now owns 4,435 shares of the specialty chemicals company's stock valued at $485,000 after purchasing an additional 2,170 shares in the last quarter. Keybank National Association OH raised its stake in shares of PPG Industries by 1.6% during the first quarter. Keybank National Association OH now owns 30,054 shares of the specialty chemicals company's stock valued at $3,286,000 after purchasing an additional 467 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of PPG Industries by 2.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,046 shares of the specialty chemicals company's stock valued at $2,957,000 after purchasing an additional 610 shares in the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of PPG Industries during the first quarter valued at about $240,000. Finally, Mather Group LLC. raised its stake in shares of PPG Industries by 4,077.4% during the first quarter. Mather Group LLC. now owns 122,065 shares of the specialty chemicals company's stock valued at $13,348,000 after purchasing an additional 119,143 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PPG has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday. Fermium Researc raised PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Citigroup lifted their target price on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. JPMorgan Chase & Co. lowered their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $131.83.

PPG Industries Trading Down 1.5%

NYSE:PPG traded down $1.73 during mid-day trading on Friday, hitting $117.34. The company had a trading volume of 770,595 shares, compared to its average volume of 1,861,812. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The business's fifty day moving average is $112.51 and its two-hundred day moving average is $112.20. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The firm has a market cap of $26.64 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.46 and a beta of 1.16.

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

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is 58.24%.

PPG Industries Company 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.