Huntington National Bank Sells 236 Shares of PPG Industries, Inc. (NYSE:PPG)

Huntington National Bank lowered its position in PPG Industries, Inc. (NYSE:PPG) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,871 shares of the specialty chemicals company’s stock after selling 236 shares during the period. Huntington National Bank’s holdings in PPG Industries were worth $3,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PPG. Norges Bank bought a new stake in shares of PPG Industries during the 4th quarter worth approximately $470,535,000. First Eagle Investment Management LLC increased its stake in PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after purchasing an additional 1,858,895 shares during the period. Wellington Management Group LLP lifted its position in shares of PPG Industries by 17.7% during the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after purchasing an additional 1,590,041 shares during the last quarter. Cooke & Bieler LP purchased a new stake in shares of PPG Industries during the fourth quarter valued at $107,850,000. Finally, Vanguard Group Inc. grew its holdings in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after purchasing an additional 756,937 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PPG shares. Mizuho lowered their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company decreased their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $138.15.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

PPG Industries Stock Up 1.0 %

NYSE:PPG opened at $110.03 on Thursday. The company’s 50-day simple moving average is $114.61 and its 200-day simple moving average is $120.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $143.98. The stock has a market capitalization of $24.97 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last announced 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, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

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.