PPG Industries, Inc. (NYSE:PPG) Stock Position Decreased by M&T Bank Corp

M&T Bank Corp cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,934 shares of the specialty chemicals company’s stock after selling 3,013 shares during the quarter. M&T Bank Corp’s holdings in PPG Industries were worth $4,889,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PPG. State Street Corp boosted its stake in shares of PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after acquiring an additional 491,774 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after buying an additional 485,597 shares during the period. FMR LLC boosted its position in shares of PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after buying an additional 354,740 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of PPG Industries by 65.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock worth $62,474,000 after buying an additional 206,853 shares during the period. Finally, Barclays PLC boosted its position in shares of PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock worth $151,276,000 after buying an additional 198,353 shares during the period. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

NYSE PPG opened at $115.47 on Friday. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61. The stock’s 50-day moving average is $116.82 and its two-hundred day moving average is $122.77. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market cap of $26.21 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.36%. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PPG shares. UBS Group decreased their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Royal Bank of Canada decreased their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Mizuho decreased their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $138.15.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

About PPG Industries

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.