CIBC Private Wealth Group LLC Trims Stake in PPG Industries, Inc. (NYSE:PPG)

CIBC Private Wealth Group LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,196 shares of the specialty chemicals company's stock after selling 6,871 shares during the quarter. CIBC Private Wealth Group LLC's holdings in PPG Industries were worth $1,989,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in 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 worth $3,508,210,000 after acquiring an additional 756,937 shares during the period. State Street Corp raised its holdings in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock worth $1,552,100,000 after acquiring an additional 491,774 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of PPG Industries by 5.7% in the third 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 in the last quarter. Norges Bank bought a new position in PPG Industries during the 4th quarter valued at $470,535,000. Finally, Beutel Goodman & Co Ltd. lifted its position in shares of PPG Industries by 0.3% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,338,384 shares of the specialty chemicals company's stock valued at $398,770,000 after purchasing an additional 10,116 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

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Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

PPG Industries Stock Down 2.3 %

PPG Industries stock traded down $2.27 during trading hours on Monday, hitting $96.88. 3,160,369 shares of the stock traded hands, compared to its average volume of 1,765,869. The firm's 50-day moving average price is $113.20 and its two-hundred day moving average price is $120.21. The company has a market cap of $21.99 billion, a PE ratio of 20.48, a PEG ratio of 2.19 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a one year low of $95.01 and a one year high of $142.30.

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

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, February 21st. PPG Industries's payout ratio is 57.51%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PPG. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. The Goldman Sachs Group decreased their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut shares of PPG Industries from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $137.77.

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.