Teacher Retirement System of Texas Sells 25,846 Shares of PPG Industries, Inc. (NYSE:PPG)

Teacher Retirement System of Texas reduced its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 43.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 large investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in PPG Industries in the 4th quarter valued at approximately $26,000. CVA Family Office LLC raised its stake in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 113 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth $36,000. Beacon Capital Management LLC raised its stake in shares of PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 101 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of PPG Industries in the 4th quarter worth $46,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 0.8%

Shares of NYSE:PPG traded up $0.90 on Wednesday, reaching $118.31. The company had a trading volume of 1,267,602 shares, compared to its average volume of 1,855,724. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The stock has a 50-day moving average price of $111.98 and a 200 day moving average price of $112.19. The stock has a market capitalization of $26.86 billion, a P/E ratio of 25.33, a P/E/G ratio of 2.42 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter in the previous year, the firm earned $1.87 EPS. The firm's revenue was down 4.3% compared to the same quarter last year. On average, equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a $0.68 dividend. The ex-dividend date was Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.30%. PPG Industries's dividend payout ratio (DPR) is 58.24%.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of research reports. Bank of America reissued a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Wells Fargo & Company boosted their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft lifted their target price on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JPMorgan Chase & Co. decreased 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, Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.83.

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.