Public Employees Retirement Association of Colorado Sells 1,301 Shares of PPG Industries, Inc. (NYSE:PPG)

Public Employees Retirement Association of Colorado lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 3.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 31,707 shares of the specialty chemicals company’s stock after selling 1,301 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PPG Industries were worth $3,992,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Financial Connections Group Inc. bought a new position in shares of PPG Industries during the 2nd quarter worth approximately $25,000. LifeSteps Financial Inc. bought a new position in shares of PPG Industries during the 1st quarter worth approximately $29,000. YHB Investment Advisors Inc. bought a new position in shares of PPG Industries during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new stake in PPG Industries during the 4th quarter worth approximately $29,000. Finally, Riverview Trust Co purchased a new stake in PPG Industries during the 1st quarter worth approximately $34,000. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. UBS Group boosted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. BMO Capital Markets dropped 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 report on Monday, July 22nd. KeyCorp dropped their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Barclays dropped their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $126.50 on Monday. The company’s fifty day moving average price is $125.71 and its 200 day moving average price is $130.73. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a market capitalization of $29.51 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results 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. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.15%. PPG Industries’s dividend payout ratio is 45.95%.

PPG Industries 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.