PPG Industries, Inc. (NYSE:PPG) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. trimmed its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,206 shares of the specialty chemicals company's stock after selling 6,463 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in PPG Industries were worth $6,355,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries during the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. raised its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in PPG Industries during the third quarter valued at approximately $34,000. Albion Financial Group UT purchased a new position in PPG Industries during the fourth quarter valued at approximately $38,000. Finally, Crews Bank & Trust purchased a new stake in shares of PPG Industries in the fourth quarter valued at approximately $42,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by insiders.

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PPG Industries Stock Performance

Shares of PPG stock traded down $1.33 during trading hours on Wednesday, reaching $112.11. 791,861 shares of the company's stock were exchanged, compared to its average volume of 1,624,062. The company has a market cap of $25.44 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company's 50 day moving average is $116.62 and its two-hundred day moving average is $122.58. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. 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 released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Equities 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 Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries's payout ratio is currently 57.51%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. KeyCorp lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PPG Industries currently has a consensus rating of "Hold" and an average price target of $138.15.

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.