State of Tennessee Department of Treasury Has $11.06 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

State of Tennessee Department of Treasury lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,546 shares of the specialty chemicals company's stock after acquiring an additional 15,187 shares during the period. State of Tennessee Department of Treasury's holdings in PPG Industries were worth $11,055,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PPG. Barclays PLC raised its position in PPG Industries by 21.0% during the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock worth $151,276,000 after buying an additional 198,353 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in PPG Industries by 69.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company's stock worth $7,153,000 after purchasing an additional 22,198 shares during the last quarter. Tidal Investments LLC increased its position in shares of PPG Industries by 1.2% in the third quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company's stock valued at $1,763,000 after buying an additional 162 shares in the last quarter. Franklin Resources Inc. raised its position in PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock worth $403,049,000 after acquiring an additional 170,339 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of PPG Industries by 8.9% in the fourth quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company's stock valued at $731,000 after purchasing an additional 498 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on PPG shares. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. UBS Group reduced their target price on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group cut their price objective on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on PPG Industries from $130.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $130.67.

PPG Industries Price Performance

Shares of PPG stock traded up $1.09 during mid-day trading on Tuesday, hitting $104.05. 370,568 shares of the stock traded hands, compared to its average volume of 1,772,680. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company's 50-day simple moving average is $107.54 and its 200-day simple moving average is $116.80. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

PPG Industries Company 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.