Public Employees Retirement Association of Colorado Lowers Stake in PPG Industries, Inc. (NYSE:PPG)

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Public Employees Retirement Association of Colorado reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 805,665 shares of the specialty chemicals company’s stock after selling 772 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.34% of PPG Industries worth $95,479,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PPG. Krane Funds Advisors LLC acquired a new stake in PPG Industries in the 2nd quarter valued at about $25,000. American National Bank acquired a new stake in PPG Industries in the 2nd quarter valued at about $25,000. Coastal Investment Advisors Inc. raised its holdings in PPG Industries by 280.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 228 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 168 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at about $29,000. Finally, Atwater Malick LLC acquired a new stake in PPG Industries in the 3rd quarter valued at about $42,000. 77.25% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries stock traded down $0.40 during trading on Friday, hitting $128.92. The company had a trading volume of 855,834 shares, compared to its average volume of 1,241,582. PPG Industries, Inc. has a 1-year low of $94.41 and a 1-year high of $130.42. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 1.02. The company’s 50 day simple moving average is $121.01 and its 200-day simple moving average is $115.87. The stock has a market cap of $30.68 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.06. PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm earned $1.45 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts forecast that PPG Industries, Inc. will post 6.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.51 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.04 annualized dividend and a yield of 1.58%. PPG Industries’s dividend payout ratio is presently 34.46%.

In other PPG Industries news, CEO Michael H. Mcgarry sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $120.00, for a total value of $1,440,000.00. Following the completion of the transaction, the chief executive officer now owns 131,434 shares of the company’s stock, valued at approximately $15,772,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael H. Mcgarry sold 11,916 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $125.00, for a total transaction of $1,489,500.00. Following the completion of the transaction, the chief executive officer now directly owns 131,350 shares of the company’s stock, valued at approximately $16,418,750. The disclosure for this sale can be found here. Insiders sold a total of 54,366 shares of company stock valued at $6,888,000 in the last three months. 0.37% of the stock is currently owned by corporate insiders.

A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating and set a $124.00 price objective for the company. in a report on Wednesday, October 16th. Wells Fargo & Co assumed coverage on shares of PPG Industries in a report on Tuesday, October 15th. They issued an “outperform” rating and a $140.00 price objective for the company. UBS Group raised their price target on shares of PPG Industries from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, October 18th. ValuEngine downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Barclays raised their price target on shares of PPG Industries from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $128.44.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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

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