Retirement Systems of Alabama Has $6.75 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Retirement Systems of Alabama cut its stake in PPG Industries, Inc. (NYSE:PPG) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,990 shares of the specialty chemicals company’s stock after selling 929 shares during the period. Retirement Systems of Alabama’s holdings in PPG Industries were worth $6,754,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PPG. Nisa Investment Advisors LLC lifted its holdings in shares of PPG Industries by 3.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 48,599 shares of the specialty chemicals company’s stock worth $6,118,000 after acquiring an additional 1,672 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in PPG Industries during the second quarter worth $525,000. &PARTNERS raised its holdings in shares of 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. Quotient Wealth Partners LLC lifted its position in shares of PPG Industries by 80.7% during the 2nd quarter. Quotient Wealth Partners LLC now owns 3,392 shares of the specialty chemicals company’s stock worth $427,000 after buying an additional 1,515 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in PPG Industries by 29.3% during the second quarter. Grove Bank & Trust now owns 4,969 shares of the specialty chemicals company’s stock worth $626,000 after acquiring an additional 1,126 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

PPG Industries stock opened at $122.06 on Wednesday. The firm has a market capitalization of $28.32 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm’s 50 day simple moving average is $125.43 and its 200 day simple moving average is $126.41. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $150.82.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. As a group, analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.23%. PPG Industries’s dividend payout ratio is presently 43.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Mizuho decreased their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $149.93.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

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.