Allianz SE Takes Position in PPG Industries, Inc. (NYSE:PPG)

Allianz SE acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 12,705 shares of the specialty chemicals company's stock, valued at approximately $1,513,000.

Several other large investors have also recently added to or reduced their stakes in PPG. PUREfi Wealth LLC acquired a new position in shares of PPG Industries in the fourth quarter worth $279,000. PFW Advisors LLC acquired a new position in PPG Industries in the 4th quarter worth about $868,000. JGP Wealth Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth about $4,050,000. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after buying an additional 756,937 shares during the last quarter. Finally, Avanza Fonder AB acquired a new position in PPG Industries in the fourth quarter worth approximately $2,944,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction 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 sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.

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Analyst Upgrades and Downgrades

PPG has been the subject of several recent research reports. Mizuho decreased their target price 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. JPMorgan Chase & Co. downgraded shares of PPG Industries from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, UBS Group reduced their target price on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $137.77.

PPG Industries Price Performance

Shares of PPG Industries stock traded down $4.01 during trading on Thursday, hitting $106.10. 810,078 shares of the company's stock traded hands, compared to its average volume of 2,203,553. PPG Industries, Inc. has a twelve month low of $104.40 and a twelve month high of $143.98. 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 company has a market cap of $24.08 billion, a PE ratio of 22.43, a PEG ratio of 2.19 and a beta of 1.22. The firm's fifty day moving average price is $114.61 and its 200 day moving average price is $120.85.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio is currently 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.