PPG Industries, Inc. (NYSE:PPG) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,476 shares of the specialty chemicals company’s stock after selling 1,268 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PPG Industries were worth $2,314,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. raised its position in PPG Industries by 32.8% in the second quarter. Blue Trust Inc. now owns 2,484 shares of the specialty chemicals company’s stock valued at $313,000 after purchasing an additional 614 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of PPG Industries by 3.6% during the second quarter. Nisa Investment Advisors LLC now owns 48,599 shares of the specialty chemicals company’s stock valued at $6,118,000 after purchasing an additional 1,672 shares during the period. Pallas Capital Advisors LLC lifted its position in shares of PPG Industries by 90.7% during the second quarter. Pallas Capital Advisors LLC now owns 2,973 shares of the specialty chemicals company’s stock worth $392,000 after purchasing an additional 1,414 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of PPG Industries by 2.6% in the second quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after purchasing an additional 86 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new stake in PPG Industries during the 2nd quarter valued at $86,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

PPG stock opened at $124.17 on Monday. The firm has a 50-day moving average of $125.65 and a two-hundred day moving average of $126.52. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The firm has a market capitalization of $28.81 billion, a PE ratio of 19.68, a P/E/G ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries’s payout ratio is presently 43.11%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, Mizuho lowered their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $149.93.

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.