PPG Industries, Inc. (PPG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in PPG Industries, Inc. (NYSE:PPG) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,607 shares of the specialty chemicals company’s stock after selling 5,263 shares during the quarter. Retirement Systems of Alabama’s holdings in PPG Industries were worth $12,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PPG. Dearborn Partners LLC raised its stake in shares of PPG Industries by 14.0% during the third quarter. Dearborn Partners LLC now owns 6,808 shares of the specialty chemicals company’s stock worth $743,000 after purchasing an additional 838 shares during the last quarter. WESPAC Advisors SoCal LLC raised its stake in shares of PPG Industries by 5.5% during the third quarter. WESPAC Advisors SoCal LLC now owns 38,550 shares of the specialty chemicals company’s stock worth $4,206,000 after purchasing an additional 2,000 shares during the last quarter. Calamos Advisors LLC raised its stake in shares of PPG Industries by 52.7% during the third quarter. Calamos Advisors LLC now owns 65,498 shares of the specialty chemicals company’s stock worth $7,148,000 after purchasing an additional 22,602 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of PPG Industries by 15.6% during the third quarter. IFM Investors Pty Ltd now owns 13,196 shares of the specialty chemicals company’s stock worth $1,440,000 after purchasing an additional 1,778 shares during the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in shares of PPG Industries by 13.9% during the third quarter. Cornerstone Wealth Management LLC now owns 12,278 shares of the specialty chemicals company’s stock worth $109,000 after purchasing an additional 1,497 shares during the last quarter. 78.13% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on PPG shares. KeyCorp cut their price target on PPG Industries from $130.00 to $128.00 and set a “$104.41” rating for the company in a research note on Monday, July 23rd. Goldman Sachs Group upgraded PPG Industries from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Wednesday, July 25th. Northcoast Research set a $114.00 price target on PPG Industries and gave the stock a “buy” rating in a research note on Tuesday, October 9th. Deutsche Bank cut their price target on PPG Industries from $124.00 to $116.00 and set a “buy” rating for the company in a research note on Tuesday, October 9th. Finally, SunTrust Banks restated a “hold” rating and set a $110.00 price target on shares of PPG Industries in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $117.56.



NYSE:PPG opened at $104.22 on Wednesday. The firm has a market capitalization of $24.67 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.71 and a quick ratio of 1.22. PPG Industries, Inc. has a 1 year low of $94.37 and a 1 year high of $122.07.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.45. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.81 billion. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. PPG Industries’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 earnings per share. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 5.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 12th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, November 8th. PPG Industries’s payout ratio is 32.71%.

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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