Allspring Global Investments Holdings LLC Acquires 3,843 Shares of PPG Industries, Inc. (NYSE:PPG)

Allspring Global Investments Holdings LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,165 shares of the specialty chemicals company's stock after acquiring an additional 3,843 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in PPG Industries were worth $2,212,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in shares of PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock valued at $1,552,100,000 after buying an additional 491,774 shares during the last quarter. Wellington Management Group LLP boosted its position in PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company's stock valued at $1,189,095,000 after purchasing an additional 485,597 shares during the period. FMR LLC grew its stake in PPG Industries by 68.3% during the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock worth $115,757,000 after buying an additional 354,740 shares during the last quarter. International Assets Investment Management LLC lifted its stake in PPG Industries by 189.6% in the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company's stock valued at $56,538,000 after buying an additional 279,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of PPG Industries by 65.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company's stock valued at $62,474,000 after acquiring an additional 206,853 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Mizuho decreased their price target on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered shares of PPG Industries from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group decreased their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Finally, Citigroup lowered their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PPG Industries has an average rating of "Moderate Buy" and a consensus price target of $138.15.

PPG Industries Stock Up 0.7 %

Shares of NYSE PPG traded up $0.76 during trading hours on Tuesday, hitting $114.29. The stock had a trading volume of 2,263,884 shares, compared to its average volume of 2,087,677. The firm's 50-day moving average price is $117.96 and its two-hundred day moving average price is $123.21. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The company has a market capitalization of $25.94 billion, a P/E ratio of 24.16, a P/E/G ratio of 2.19 and a beta of 1.23. 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 (NYSE:PPG - Get Free Report) 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 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 anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.38%. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company's stock.

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.