PPG Industries, Inc. (NYSE:PPG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,776 shares of the specialty chemicals company's stock after selling 4,625 shares during the quarter. Teacher Retirement System of Texas' holdings in PPG Industries were worth $7,140,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PPG. Alpha DNA Investment Management LLC lifted its position in PPG Industries by 1.1% in the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company's stock valued at $1,105,000 after acquiring an additional 92 shares during the last quarter. Mutual Advisors LLC increased its position in shares of PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Groupama Asset Managment lifted its holdings in shares of PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock valued at $1,027,000 after purchasing an additional 93 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock valued at $51,000 after purchasing an additional 95 shares during the period. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock valued at $990,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

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Analyst Upgrades and Downgrades

PPG has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 4th. UBS Group lowered their price target on PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $138.15.

PPG Industries Price Performance

NYSE PPG traded down $0.77 during mid-day trading on Tuesday, hitting $112.21. The stock had a trading volume of 534,151 shares, compared to its average volume of 1,617,964. The company has a 50 day simple moving average of $116.06 and a 200 day simple moving average of $121.61. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market cap of $25.47 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61.

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

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Friday, February 21st. PPG Industries's payout ratio is currently 57.51%.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value 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 approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

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.