TIAA Trust National Association Has $2.08 Million Position in PPG Industries, Inc. (NYSE:PPG)

TIAA Trust National Association lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,545 shares of the specialty chemicals company’s stock after selling 374 shares during the period. TIAA Trust National Association’s holdings in PPG Industries were worth $2,083,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Private Wealth Management Group LLC bought a new stake in shares of PPG Industries during the fourth quarter worth $27,000. Richardson Financial Services Inc. bought a new position in PPG Industries in the fourth quarter valued at about $29,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries in the first quarter worth about $29,000. YHB Investment Advisors Inc. bought a new stake in PPG Industries during the 1st quarter worth about $29,000. Finally, Financial Connections Group Inc. acquired a new position in PPG Industries during the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of several analyst reports. KeyCorp lowered their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets reduced their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Barclays dropped their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada reduced their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. Finally, Citigroup lowered their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Trading Down 1.0 %

Shares of NYSE:PPG opened at $126.67 on Thursday. The firm has a market cap of $29.55 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.75 and a beta of 1.26. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company’s fifty day simple moving average is $125.62 and its 200 day simple moving average is $132.04. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 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 business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared 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 represents a $2.72 dividend on an annualized basis and a yield of 2.15%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is currently 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.