PPG Industries, Inc. (NYSE:PPG) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. decreased its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,525 shares of the specialty chemicals company's stock after selling 3,457 shares during the period. Montag A & Associates Inc.'s holdings in PPG Industries were worth $1,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PPG. State Street Corp lifted its stake in shares of PPG Industries by 4.4% in 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 purchasing an additional 491,774 shares during the period. Wellington Management Group LLP increased its holdings in PPG Industries by 5.7% during the 3rd 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 acquiring an additional 485,597 shares in the last quarter. FMR LLC increased its holdings in PPG Industries by 68.3% during the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock valued at $115,757,000 after acquiring an additional 354,740 shares in the last quarter. International Assets Investment Management LLC increased its holdings in PPG Industries by 189.6% during the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company's stock valued at $56,538,000 after acquiring an additional 279,455 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in PPG Industries by 65.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company's stock valued at $62,474,000 after acquiring an additional 206,853 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analyst Weigh In

PPG has been the subject of several recent research reports. The Goldman Sachs Group dropped their target price on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Royal Bank of Canada lowered their price target on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a report on Tuesday, February 4th. Citigroup lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. StockNews.com downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Finally, Mizuho lowered their target price on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a 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 a consensus rating of "Moderate Buy" and an average target price of $138.15.

PPG Industries Stock Down 2.0 %

Shares of NYSE PPG traded down $2.44 during trading on Wednesday, reaching $116.82. 1,681,051 shares of the stock were exchanged, compared to its average volume of 2,106,998. The business's 50-day moving average price is $118.60 and its 200 day moving average price is $123.29. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. 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 company has a market capitalization of $27.10 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. As a group, equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.33%. PPG Industries's payout ratio is currently 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction on Friday, February 14th. The shares were 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 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company's stock.

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.