Commerce Bank Trims Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Commerce Bank lessened its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,335 shares of the specialty chemicals company's stock after selling 3,029 shares during the quarter. Commerce Bank's holdings in PPG Industries were worth $2,907,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PPG. Legend Financial Advisors Inc. bought a new position in PPG Industries during the 4th quarter worth $27,000. Prudent Man Investment Management Inc. bought a new position in shares of PPG Industries during the fourth quarter worth about $36,000. Albion Financial Group UT acquired a new position in shares of PPG Industries in the fourth quarter worth approximately $38,000. Crews Bank & Trust bought a new stake in PPG Industries in the fourth quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries during the 4th quarter valued at approximately $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

PPG Industries stock traded down $1.48 during mid-day trading on Friday, reaching $102.65. 1,889,475 shares of the company's stock were exchanged, compared to its average volume of 1,777,414. The firm has a market capitalization of $23.30 billion, a PE ratio of 21.70, a P/E/G ratio of 2.19 and a beta of 1.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business's fifty day simple moving average is $108.15 and its 200 day simple moving average is $117.29. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) 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 return on equity of 23.78% and a net margin of 6.41%. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.65%. PPG Industries's payout ratio is 57.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PPG shares. UBS Group reduced their price objective on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company lowered their price objective on PPG Industries from $130.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group lowered their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. StockNews.com lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Finally, Bank of America restated a "neutral" rating and issued a $126.00 price target (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, PPG Industries presently has an average rating of "Hold" and a consensus target price of $130.67.

Insider Buying and Selling 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

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.