Federated Hermes Inc. Has $58.93 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Federated Hermes Inc. trimmed its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 493,339 shares of the specialty chemicals company's stock after selling 35,686 shares during the quarter. Federated Hermes Inc. owned 0.21% of PPG Industries worth $58,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. HighTower Advisors LLC lifted its holdings in shares of PPG Industries by 13.5% during the third quarter. HighTower Advisors LLC now owns 74,837 shares of the specialty chemicals company's stock valued at $9,914,000 after purchasing an additional 8,905 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of PPG Industries by 10.0% in the third quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company's stock worth $4,824,000 after buying an additional 3,300 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of PPG Industries by 146.1% in the third quarter. Integrated Wealth Concepts LLC now owns 7,560 shares of the specialty chemicals company's stock worth $1,001,000 after acquiring an additional 4,488 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of PPG Industries by 35.7% during the third quarter. IHT Wealth Management LLC now owns 4,592 shares of the specialty chemicals company's stock valued at $604,000 after acquiring an additional 1,208 shares during the period. Finally, Royal London Asset Management Ltd. lifted its position in shares of PPG Industries by 0.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 97,295 shares of the specialty chemicals company's stock valued at $12,888,000 after acquiring an additional 553 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PPG. JPMorgan Chase & Co. downgraded shares of PPG Industries from an "overweight" rating to a "neutral" rating and cut their target price for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. UBS Group lowered their target price on PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $134.15.

PPG Industries Stock Up 2.3 %

Shares of PPG traded up $2.22 during trading hours on Friday, hitting $100.75. 1,906,436 shares of the company were exchanged, compared to its average volume of 1,799,980. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market cap of $22.87 billion, a PE ratio of 21.30, a PEG ratio of 2.19 and a beta of 1.16. The firm's 50 day moving average is $110.83 and its 200-day moving average is $119.09. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last announced 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%. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, February 21st. PPG Industries's dividend payout ratio is 57.51%.

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.