Envestnet Asset Management Inc. Has $29.63 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Envestnet Asset Management Inc. trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,058 shares of the specialty chemicals company's stock after selling 12,256 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of PPG Industries worth $29,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. Perennial Investment Advisors LLC bought a new stake in shares of PPG Industries in the 4th quarter worth $365,000. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of PPG Industries by 676.5% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 33,919 shares of the specialty chemicals company's stock valued at $4,052,000 after purchasing an additional 29,551 shares in the last quarter. Aviva PLC grew its stake in shares of PPG Industries by 261.6% in the 4th quarter. Aviva PLC now owns 140,641 shares of the specialty chemicals company's stock worth $16,800,000 after purchasing an additional 101,742 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $9,892,000. Finally, Westpac Banking Corp boosted its holdings in PPG Industries by 1.8% during the fourth quarter. Westpac Banking Corp now owns 31,130 shares of the specialty chemicals company's stock worth $3,718,000 after buying an additional 558 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PPG. StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. cut shares of PPG Industries from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group lowered their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, UBS Group reduced their price target on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PPG Industries has an average rating of "Hold" and a consensus price target of $132.31.

PPG Industries Stock Performance

PPG stock traded up $1.58 on Friday, reaching $100.00. 2,240,529 shares of the company were exchanged, compared to its average volume of 1,804,031. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The stock's fifty day moving average price is $109.67 and its 200 day moving average price is $118.25. The firm has a market capitalization of $22.70 billion, a PE ratio of 21.14, a PEG ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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%. On average, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.72%. PPG Industries's dividend payout ratio is presently 57.51%.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company 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.