State of Alaska Department of Revenue Sells 6,275 Shares of PPG Industries, Inc. (NYSE:PPG)

State of Alaska Department of Revenue lowered its position in shares of PPG Industries, Inc. (NYSE:PPGGet Rating) by 14.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,682 shares of the specialty chemicals company’s stock after selling 6,275 shares during the quarter. State of Alaska Department of Revenue’s holdings in PPG Industries were worth $4,193,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. DnB Asset Management AS boosted its position in PPG Industries by 41.6% during the second quarter. DnB Asset Management AS now owns 86,198 shares of the specialty chemicals company’s stock valued at $9,856,000 after acquiring an additional 25,327 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of PPG Industries by 38.2% during the 2nd quarter. Moody National Bank Trust Division now owns 8,021 shares of the specialty chemicals company’s stock worth $918,000 after purchasing an additional 2,218 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of PPG Industries by 2.7% during the 2nd quarter. Confluence Investment Management LLC now owns 132,899 shares of the specialty chemicals company’s stock worth $15,196,000 after purchasing an additional 3,529 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of PPG Industries by 41.5% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,388 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 700 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position in shares of PPG Industries by 0.9% during the 1st quarter. J.W. Cole Advisors Inc. now owns 15,102 shares of the specialty chemicals company’s stock worth $1,979,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of PPG Industries from $162.00 to $163.00 and gave the stock a “buy” rating in a research report on Monday, July 25th. UBS Group cut their price objective on shares of PPG Industries to $160.00 in a research report on Friday, July 22nd. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research report on Monday, June 27th. Bank of America lowered their target price on shares of PPG Industries from $172.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Finally, Credit Suisse Group lowered their target price on shares of PPG Industries to $110.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $155.41.

PPG Industries Trading Down 2.9 %

NYSE:PPG opened at $113.30 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.02 and a current ratio of 1.50. The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 2.45 and a beta of 1.16. PPG Industries, Inc. has a 52 week low of $107.06 and a 52 week high of $177.32. The firm has a 50-day moving average price of $126.24 and a two-hundred day moving average price of $125.15.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.62 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, August 9th. PPG Industries’s dividend payout ratio is currently 54.39%.

About PPG Industries

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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