Retirement Systems of Alabama Has $6.54 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Retirement Systems of Alabama lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,919 shares of the specialty chemicals company’s stock after selling 125 shares during the quarter. Retirement Systems of Alabama’s holdings in PPG Industries were worth $6,536,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC grew its position in PPG Industries by 38.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 76 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of PPG Industries by 0.9% during the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after purchasing an additional 76 shares during the last quarter. Essex Financial Services Inc. increased its stake in shares of PPG Industries by 0.6% in the first quarter. Essex Financial Services Inc. now owns 13,266 shares of the specialty chemicals company’s stock valued at $1,922,000 after buying an additional 81 shares during the period. Gryphon Financial Partners LLC increased its stake in shares of PPG Industries by 1.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after buying an additional 81 shares during the period. Finally, SYSTM Wealth Solutions LLC raised its holdings in PPG Industries by 4.2% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,013 shares of the specialty chemicals company’s stock valued at $292,000 after buying an additional 82 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. KeyCorp reduced their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets reduced their price objective 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 decreased their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Barclays cut their target price 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. Finally, StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Stock Performance

PPG 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 company’s fifty day moving average price is $125.53 and its two-hundred day moving average price is $132.68. The company has a market cap of $29.52 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.65 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 EPS. On average, analysts expect that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a $0.68 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 annualized dividend and a yield of 2.15%. PPG Industries’s dividend payout ratio (DPR) is 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.