ING Groep NV Decreases Holdings in PPG Industries, Inc. (NYSE:PPG)

ING Groep NV cut its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 70.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,631 shares of the specialty chemicals company's stock after selling 70,571 shares during the quarter. ING Groep NV's holdings in PPG Industries were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. PUREfi Wealth LLC purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $279,000. PFW Advisors LLC bought a new stake in PPG Industries in the fourth quarter valued at $868,000. Equity Investment Corp increased its position in PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company's stock valued at $86,006,000 after purchasing an additional 42,380 shares during the period. JGP Wealth Management LLC bought a new position in PPG Industries in the 4th quarter worth $4,050,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company's stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 0.6 %

PPG stock traded up $0.68 during trading on Wednesday, reaching $115.07. 1,450,649 shares of the company traded hands, compared to its average volume of 2,068,957. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The business has a 50 day simple moving average of $117.96 and a 200 day simple moving average of $123.21. 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 capitalization of $26.11 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is 57.51%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PPG shares. UBS Group reduced their price target on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Mizuho reduced their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group dropped their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. KeyCorp downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Finally, Wells Fargo & Company lowered their price objective on PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $138.15.

Insider Activity 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 completion of the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is owned by company insiders.

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.