Teachers Retirement System of The State of Kentucky Acquires Shares of 85,214 PPG Industries, Inc. (NYSE:PPG)

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 85,214 shares of the specialty chemicals company’s stock, valued at approximately $9,433,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in PPG Industries by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 20,472,227 shares of the specialty chemicals company’s stock valued at $2,266,070,000 after acquiring an additional 68,359 shares in the last quarter. State Street Corp boosted its position in PPG Industries by 2.5% during the 2nd quarter. State Street Corp now owns 11,682,267 shares of the specialty chemicals company’s stock valued at $1,335,750,000 after acquiring an additional 285,651 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of PPG Industries by 1.5% during the second quarter. Clearbridge Investments LLC now owns 5,346,747 shares of the specialty chemicals company’s stock valued at $611,347,000 after purchasing an additional 76,632 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PPG Industries by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,193,621 shares of the specialty chemicals company’s stock valued at $418,589,000 after purchasing an additional 65,996 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of PPG Industries by 0.7% during the third quarter. Nuveen Asset Management LLC now owns 2,993,417 shares of the specialty chemicals company’s stock valued at $331,341,000 after purchasing an additional 19,746 shares during the last quarter. 80.04% of the stock is owned by institutional investors.

PPG Industries Trading Up 0.9 %

Shares of PPG Industries stock opened at $126.55 on Friday. The company has a market capitalization of $29.78 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.04 and a current ratio of 1.52. The company has a fifty day moving average of $129.80 and a 200 day moving average of $124.85. PPG Industries, Inc. has a fifty-two week low of $107.06 and a fifty-two week high of $138.10.

PPG Industries (NYSE:PPG – Get Rating) last issued its earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.08. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a net margin of 5.81% and a return on equity of 22.55%. PPG Industries’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 6.52 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, February 16th. PPG Industries’s dividend payout ratio is currently 57.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PPG shares. Citigroup lowered their target price on shares of PPG Industries from $139.00 to $138.00 in a report on Sunday, January 22nd. StockNews.com started coverage on shares of PPG Industries in a report on Thursday. They set a “buy” rating for the company. Vertical Research lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, January 23rd. Argus boosted their price objective on shares of PPG Industries from $144.00 to $149.00 in a report on Monday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PPG Industries from $128.00 to $145.00 in a report on Monday, January 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $135.84.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 21,757 shares of the business’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $128.33, for a total value of $2,792,075.81. Following the sale, the vice president now owns 10,577 shares in the company, valued at approximately $1,357,346.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PPG Industries news, Chairman Michael H. Mcgarry sold 61,867 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total value of $8,040,235.32. Following the sale, the chairman now owns 183,645 shares in the company, valued at approximately $23,866,504.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Anne M. Foulkes sold 21,757 shares of the business’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the completion of the sale, the vice president now owns 10,577 shares in the company, valued at approximately $1,357,346.41. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

PPG Industries Company Profile

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.