PPG Industries, Inc. (NYSE:PPG) Shares Sold by Teacher Retirement System of Texas

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 Form 13F filing with the Securities and Exchange Commission. The firm owned 33,930 shares of the specialty chemicals company's stock after selling 25,846 shares during the period. Teacher Retirement System of Texas' holdings in PPG Industries were worth $3,710,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new stake in PPG Industries in the 4th quarter valued at $26,000. CVA Family Office LLC grew its position in shares of PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 113 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $36,000. Beacon Capital Management LLC grew its position in shares of PPG Industries by 37.1% in the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 101 shares during the period. Finally, CX Institutional acquired a new stake in shares of PPG Industries in the first quarter valued at about $44,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PPG shares. Deutsche Bank Aktiengesellschaft lifted their price objective on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Wells Fargo & Company lifted their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Bank of America reaffirmed a "neutral" rating and set a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Finally, Citigroup boosted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PPG Industries currently has an average rating of "Moderate Buy" and a consensus price target of $130.67.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $117.43 on Wednesday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The business's fifty day simple moving average is $111.98 and its 200-day simple moving average is $112.19. The firm has a market cap of $26.66 billion, a PE ratio of 25.15, a price-to-earnings-growth 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 earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company 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 company posted $1.87 earnings per share. PPG Industries's revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's payout ratio is 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.

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