PPG Industries, Inc. (NYSE:PPG) Position Lessened by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 43.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PPG. Brighton Jones LLC lifted its stake in shares of PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock worth $487,000 after purchasing an additional 339 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of PPG Industries by 25.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,961 shares of the specialty chemicals company's stock worth $234,000 after purchasing an additional 402 shares in the last quarter. Assetmark Inc. lifted its stake in shares of PPG Industries by 5.9% during the fourth quarter. Assetmark Inc. now owns 11,664 shares of the specialty chemicals company's stock worth $1,393,000 after purchasing an additional 650 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of PPG Industries during the fourth quarter worth about $6,997,000. Finally, Banco Santander S.A. acquired a new position in shares of PPG Industries during the fourth quarter worth about $272,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price target on PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Citigroup increased their price target on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Fermium Researc raised PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $131.83.

PPG Industries Stock Up 1.8%

NYSE PPG traded up $2.18 on Thursday, hitting $120.37. 231,341 shares of the stock traded hands, compared to its average volume of 1,852,599. The stock has a 50-day moving average of $112.17 and a 200 day moving average of $112.24. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The company has a market capitalization of $27.32 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data 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. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The firm had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter in the prior year, the firm posted $1.87 earnings per share. PPG Industries's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is 58.24%.

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.