PPG Industries, Inc. (NYSE:PPG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,025,620 shares of the specialty chemicals company’s stock after selling 5,085 shares during the quarter. PNC Financial Services Group Inc. owned 0.44% of PPG Industries worth $122,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Ashton Thomas Private Wealth LLC raised its stake in shares of PPG Industries by 7.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,940 shares of the specialty chemicals company’s stock valued at $2,860,000 after acquiring an additional 1,677 shares in the last quarter. Welch & Forbes LLC increased its holdings in PPG Industries by 3.7% during the 4th quarter. Welch & Forbes LLC now owns 4,189 shares of the specialty chemicals company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Lindbrook Capital LLC raised its position in PPG Industries by 25.5% in the 4th quarter. Lindbrook Capital LLC now owns 852 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 173 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of PPG Industries in the 4th quarter valued at about $82,071,000. Finally, Dana Investment Advisors Inc. acquired a new position in shares of PPG Industries during the fourth quarter worth about $1,840,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Mizuho cut their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $138.15.

PPG Industries Stock Performance

Shares of PPG opened at $115.47 on Friday. The company’s 50 day simple moving average is $116.82 and its 200-day simple moving average is $122.76. The firm has a market cap of $26.21 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

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

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by company insiders.

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.