PPG Industries, Inc. (NYSE:PPG) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 19.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 35,449 shares of the specialty chemicals company’s stock after selling 8,400 shares during the quarter. Fifth Third Bancorp’s holdings in PPG Industries were worth $4,234,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Insight Folios Inc grew its stake in PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 81 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in shares of PPG Industries by 1.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock worth $1,105,000 after buying an additional 92 shares in the last quarter. Mutual Advisors LLC increased its stake in shares of PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after buying an additional 92 shares during the period. Groupama Asset Managment raised its holdings in PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after acquiring an additional 93 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $122.75 on Monday. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.93 and a beta of 1.24. The firm’s fifty day simple moving average is $121.17 and its 200-day simple moving average is $124.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 12 month low of $113.00 and a 12 month high of $145.60.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of recent analyst reports. Mizuho dropped their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Finally, BMO Capital Markets restated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.23.

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.