Retirement Systems of Alabama Sells 125 Shares of PPG Industries, Inc. (NYSE:PPG)

Retirement Systems of Alabama decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,919 shares of the specialty chemicals company’s stock after selling 125 shares during the period. Retirement Systems of Alabama’s holdings in PPG Industries were worth $6,536,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quotient Wealth Partners LLC lifted its position in shares of PPG Industries by 80.7% during the second quarter. Quotient Wealth Partners LLC now owns 3,392 shares of the specialty chemicals company’s stock worth $427,000 after purchasing an additional 1,515 shares in the last quarter. &PARTNERS lifted its holdings in PPG Industries by 561.6% during the 2nd quarter. &PARTNERS now owns 25,453 shares of the specialty chemicals company’s stock worth $3,207,000 after buying an additional 21,606 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in PPG Industries in the 2nd quarter valued at $525,000. MFA Wealth Advisors LLC bought a new position in PPG Industries in the 2nd quarter valued at $86,000. Finally, SeaCrest Wealth Management LLC increased its stake in shares of PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after buying an additional 86 shares during the period. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays decreased their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets reduced their target price 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. Bank of America dropped their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. UBS Group increased their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Citigroup lowered their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Stock Performance

PPG stock opened at $126.53 on Monday. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The firm has a market cap of $29.52 billion, a PE ratio of 21.37, a P/E/G ratio of 1.65 and a beta of 1.26. The business’s 50-day moving average price is $125.53 and its two-hundred day moving average price is $132.68.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the business posted $2.25 EPS. PPG Industries’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be given a dividend of $0.68 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. PPG Industries’s dividend payout ratio is currently 45.95%.

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.