Public Employees Retirement Association of Colorado Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

Public Employees Retirement Association of Colorado reduced its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,707 shares of the specialty chemicals company’s stock after selling 1,301 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PPG Industries were worth $3,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after purchasing an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after purchasing an additional 368,410 shares during the period. Federated Hermes Inc. boosted its stake in shares of PPG Industries by 91.0% during the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after purchasing an additional 249,406 shares during the period. SG Americas Securities LLC boosted its stake in shares of PPG Industries by 549.0% during the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after purchasing an additional 216,675 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of PPG Industries during the 1st quarter worth about $31,033,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Down 2.1 %

NYSE:PPG opened at $126.50 on Monday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The firm has a market cap of $29.51 billion, a P/E ratio of 21.37, a P/E/G ratio of 1.72 and a beta of 1.26. The firm has a 50-day simple moving average of $125.71 and a 200-day simple moving average of $130.73.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the business posted $2.25 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts anticipate that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is currently 45.95%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of recent analyst reports. Bank of America dropped their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets dropped their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada dropped their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Citigroup decreased their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, KeyCorp decreased their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $151.08.

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.