PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,136,570 shares of the specialty chemicals company's stock after purchasing an additional 170,339 shares during the quarter. Franklin Resources Inc. owned about 1.35% of PPG Industries worth $403,049,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Tidal Investments LLC raised its position in shares of PPG Industries by 1.2% during the 3rd quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company's stock valued at $1,763,000 after buying an additional 162 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in PPG Industries by 69.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company's stock worth $7,153,000 after acquiring an additional 22,198 shares during the last quarter. Toronto Dominion Bank raised its position in PPG Industries by 5.3% during the third quarter. Toronto Dominion Bank now owns 134,028 shares of the specialty chemicals company's stock valued at $17,753,000 after purchasing an additional 6,756 shares during the period. Barclays PLC boosted its holdings in shares of PPG Industries by 21.0% in the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock worth $151,276,000 after purchasing an additional 198,353 shares during the period. Finally, Groupama Asset Managment increased its position in shares of PPG Industries by 1.2% during the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock valued at $1,027,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 22nd. StockNews.com raised shares of PPG Industries from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut their target price on PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $149.93.

PPG Industries Stock Up 0.1 %

PPG stock traded up $0.15 during trading on Friday, hitting $124.17. 2,277,567 shares of the company's stock traded hands, compared to its average volume of 1,611,426. The business has a fifty day simple moving average of $125.65 and a two-hundred day simple moving average of $126.55. 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 firm has a market capitalization of $28.81 billion, a P/E ratio of 19.68, a PEG ratio of 1.88 and a beta of 1.24. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The company's revenue was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Tuesday, November 12th. PPG Industries's payout ratio is currently 43.11%.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company's stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by company insiders.

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.