California Public Employees Retirement System Sells 24,632 Shares of PPG Industries, Inc. (NYSE:PPG)

California Public Employees Retirement System trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 385,354 shares of the specialty chemicals company's stock after selling 24,632 shares during the period. California Public Employees Retirement System owned 0.17% of PPG Industries worth $46,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PPG. Vanguard Group Inc. grew its stake in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after purchasing an additional 756,937 shares in the last quarter. State Street Corp lifted its holdings in 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 worth $1,552,100,000 after purchasing an additional 491,774 shares during the period. Wellington Management Group LLP grew its position in PPG Industries by 5.7% in 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 buying an additional 485,597 shares in the last quarter. Norges Bank acquired a new position in PPG Industries during the 4th quarter valued at about $470,535,000. Finally, Beutel Goodman & Co Ltd. raised its position in shares of PPG Industries by 0.3% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 3,338,384 shares of the specialty chemicals company's stock worth $398,770,000 after buying an additional 10,116 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

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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 dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PPG. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Royal Bank of Canada dropped their price target on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 4th. Mizuho cut their price target 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. Finally, UBS Group lowered their price objective on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of "Hold" and an average target price of $137.77.

PPG Industries Stock Performance

PPG stock traded down $6.09 during midday trading on Thursday, hitting $104.02. 2,229,928 shares of the company traded hands, compared to its average volume of 1,747,246. PPG Industries, Inc. has a twelve month low of $103.93 and a twelve month high of $143.98. The stock has a market capitalization of $23.61 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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 business has a 50 day simple moving average of $114.22 and a 200-day simple moving average of $120.73.

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

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Friday, February 21st. 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.