Chevy Chase Trust Holdings LLC Trims Stock Position in PPG Industries, Inc. (NYSE:PPG)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,129 shares of the specialty chemicals company's stock after selling 3,391 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of PPG Industries worth $14,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PPG. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. raised its stake in shares of 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 stake in shares of PPG Industries in the third quarter valued at approximately $34,000. Hara Capital LLC bought a new position in PPG Industries in the third quarter worth approximately $40,000. Finally, Albion Financial Group UT purchased a new position in PPG Industries during the 4th quarter worth $38,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PPG shares. Citigroup dropped their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. UBS Group cut their target price 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. Wells Fargo & Company lowered their price target on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada cut their price objective on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PPG Industries currently has an average rating of "Moderate Buy" and a consensus price target of $138.15.

PPG Industries Stock Down 2.0 %

NYSE PPG traded down $2.44 during trading on Wednesday, hitting $116.82. The company's stock had a trading volume of 1,681,051 shares, compared to its average volume of 2,106,998. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The company has a market cap of $27.10 billion, a PE ratio of 24.70, a P/E/G ratio of 2.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business's 50 day simple moving average is $118.60 and its 200-day simple moving average is $123.29.

PPG Industries (NYSE:PPG - Get Free Report) last released 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%. On average, equities analysts anticipate 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. Investors of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, February 21st. PPG Industries's payout ratio is 57.51%.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by company insiders.

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.