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

Teachers Retirement System of The State of Kentucky lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 49.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,744 shares of the specialty chemicals company’s stock after selling 18,459 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in PPG Industries were worth $2,360,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PPG. Financial Connections Group Inc. acquired a new position in PPG Industries during the second quarter worth approximately $25,000. YHB Investment Advisors Inc. acquired a new position in PPG Industries in the first quarter valued at $29,000. LifeSteps Financial Inc. acquired a new position in PPG Industries in the 1st quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new stake in PPG Industries during the 4th quarter worth approximately $29,000. Finally, Riverview Trust Co acquired a new position in shares of PPG Industries in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.6 %

Shares of NYSE:PPG opened at $128.57 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The firm has a fifty day moving average of $125.94 and a two-hundred day moving average of $130.16. The firm has a market capitalization of $30.00 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts expect that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is presently 45.95%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada dropped their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. BMO Capital Markets decreased their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Barclays cut their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. KeyCorp dropped their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Citigroup decreased their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

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.