New York State Teachers Retirement System Has $21.08 Million Stake in PPG Industries, Inc. (NYSE:PPG)

New York State Teachers Retirement System trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 176,464 shares of the specialty chemicals company's stock after selling 12,766 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of PPG Industries worth $21,079,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. PFW Advisors LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $868,000. Equity Investment Corp raised its holdings in PPG Industries by 7.0% in the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company's stock valued at $86,006,000 after acquiring an additional 42,380 shares in the last quarter. JGP Wealth Management LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at $4,050,000. Charles Schwab Investment Management Inc. increased its position in shares of PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company's stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. Finally, Avanza Fonder AB acquired a new position in PPG Industries in the fourth quarter valued at about $2,944,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Trading Down 2.0 %

Shares of NYSE:PPG traded down $2.44 during midday trading on Wednesday, hitting $116.82. 1,681,051 shares of the stock were exchanged, compared to its average volume of 2,106,998. The business's 50-day moving average price is $118.60 and its 200 day moving average price is $123.29. The stock has a market capitalization of $27.10 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

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

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, February 21st. PPG Industries's dividend payout ratio is currently 57.51%.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. cut shares of PPG Industries from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Barclays cut their target price on PPG Industries from $144.00 to $125.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. KeyCorp lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Finally, Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PPG Industries has an average rating of "Moderate Buy" and an average target price of $138.15.

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.