TIAA Trust National Association Has $3.12 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Key Points

• TIAA Trust National Association increased its holdings in PPG Industries by 45.8%, acquiring an additional 8,960 shares during the first quarter, bringing its total to 28,521 shares valued at approximately $3.1 million.
• PPG Industries reported steady performance with earnings of $2.22 EPS for the last quarter, meeting estimates, and a revenue of $4.20 billion, which is a 0.9% decline year-over-year.
• The company has raised its quarterly dividend to $0.71 per share, up from $0.68, indicating a commitment to returning value to shareholders amidst recent market fluctuations.

TIAA Trust National Association lifted its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 45.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,521 shares of the specialty chemicals company's stock after acquiring an additional 8,960 shares during the quarter. TIAA Trust National Association's holdings in PPG Industries were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PPG. Commerce Bank increased its position in PPG Industries by 1.3% during the first quarter. Commerce Bank now owns 24,652 shares of the specialty chemicals company's stock worth $2,696,000 after buying an additional 317 shares during the last quarter. Jefferies Financial Group Inc. boosted its holdings in PPG Industries by 72.5% during the first quarter. Jefferies Financial Group Inc. now owns 8,194 shares of the specialty chemicals company's stock valued at $896,000 after acquiring an additional 3,443 shares during the period. Natixis Advisors LLC boosted its holdings in PPG Industries by 3.1% during the first quarter. Natixis Advisors LLC now owns 143,309 shares of the specialty chemicals company's stock valued at $15,671,000 after acquiring an additional 4,258 shares during the period. Vestcor Inc boosted its holdings in PPG Industries by 26.1% during the first quarter. Vestcor Inc now owns 4,628 shares of the specialty chemicals company's stock valued at $506,000 after acquiring an additional 957 shares during the period. Finally, Nan Fung Trinity HK Ltd. boosted its holdings in PPG Industries by 26.4% during the first quarter. Nan Fung Trinity HK Ltd. now owns 216,800 shares of the specialty chemicals company's stock valued at $23,707,000 after acquiring an additional 45,300 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PPG shares. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Royal Bank Of Canada upped their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday. Deutsche Bank Aktiengesellschaft upped 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. Bank of America restated a "neutral" rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Finally, Mizuho increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Nine investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Price Performance

PPG traded up $1.07 during midday trading on Tuesday, reaching $106.07. 1,398,007 shares of the company's stock were exchanged, compared to its average volume of 2,098,650. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 2.17 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The business has a 50-day simple moving average of $112.95 and a two-hundred day simple moving average of $111.59.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting analysts' consensus estimates of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 earnings per share. As a group, research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries's dividend payout ratio (DPR) is 61.68%.

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.