HighTower Advisors LLC Purchases 6,557 Shares of PPG Industries, Inc. (NYSE:PPG)

HighTower Advisors LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,394 shares of the specialty chemicals company's stock after purchasing an additional 6,557 shares during the period. HighTower Advisors LLC's holdings in PPG Industries were worth $9,723,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp boosted its holdings in PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock valued at $1,552,100,000 after acquiring an additional 491,774 shares during the period. Wellington Management Group LLP lifted its stake 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 buying an additional 485,597 shares during the period. Franklin Resources Inc. lifted its stake in shares of PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock valued at $403,049,000 after buying an additional 170,339 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of PPG Industries by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company's stock valued at $316,349,000 after buying an additional 76,626 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of PPG Industries by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company's stock valued at $248,650,000 after buying an additional 36,047 shares during the period. 81.86% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PPG shares. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut shares of PPG Industries from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $138.15.

PPG Industries Trading Down 0.5 %

Shares of NYSE PPG traded down $0.51 during midday trading on Friday, reaching $110.75. 3,135,294 shares of the stock were exchanged, compared to its average volume of 2,139,552. The business has a 50-day simple moving average of $116.15 and a two-hundred day simple moving average of $121.91. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 12 month low of $109.15 and a 12 month high of $145.60. 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 (NYSE:PPG - Get Free Report) last announced 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%. As a group, equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.46%. PPG Industries's payout ratio is currently 57.51%.

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.