PPG Industries, Inc. (NYSE:PPG) Shares Sold by Keybank National Association OH

Keybank National Association OH lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,587 shares of the specialty chemicals company’s stock after selling 2,727 shares during the quarter. Keybank National Association OH’s holdings in PPG Industries were worth $3,534,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. PUREfi Wealth LLC acquired a new position in PPG Industries in the fourth quarter worth $279,000. PFW Advisors LLC acquired a new position in PPG Industries in the fourth quarter worth $868,000. Equity Investment Corp boosted its holdings in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after purchasing an additional 42,380 shares during the period. JGP Wealth Management LLC acquired a new position in PPG Industries in the fourth quarter worth $4,050,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $114.18 on Thursday. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve 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. The company has a market capitalization of $25.91 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.19 and a beta of 1.22. The firm has a 50-day moving average of $117.04 and a two-hundred day moving average of $122.87.

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

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PPG shares. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays reissued an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” 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 business’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 sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is owned by corporate insiders.

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.