Teacher Retirement System of Texas Lowers Stock Position in PPG Industries, Inc. (NYSE:PPG)

Teacher Retirement System of Texas cut its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 43.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $470,535,000. Kovitz Investment Group Partners LLC increased its stake in shares of PPG Industries by 482.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock valued at $518,132,000 after purchasing an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of PPG Industries by 815.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock valued at $362,074,000 after purchasing an additional 2,700,018 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of PPG Industries by 138.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock valued at $381,876,000 after purchasing an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of PPG Industries by 17.7% during the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after purchasing an additional 1,590,041 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PPG. Citigroup raised 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. JPMorgan Chase & Co. decreased their target price 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. UBS Group raised their target price on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Bank of America reiterated a "neutral" rating and set a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of "Moderate Buy" and an average target price of $131.83.

PPG Industries Price Performance

NYSE PPG traded down $1.73 on Friday, reaching $117.34. The company had a trading volume of 770,558 shares, compared to its average volume of 1,855,499. 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 stock has a market capitalization of $26.64 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.47 and a beta of 1.16. The firm's 50 day moving average price is $112.37 and its 200 day moving average price is $112.23. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24.

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

PPG Industries Announces Dividend

The business 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 of this dividend was Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.32%. 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.