Keybank National Association OH Sells 2,727 Shares of PPG Industries, Inc. (NYSE:PPG)

Keybank National Association OH lowered its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,587 shares of the specialty chemicals company's stock after selling 2,727 shares during the quarter. Keybank National Association OH's holdings in PPG Industries were worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PPG. PUREfi Wealth LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at $279,000. PFW Advisors LLC purchased a new stake in PPG Industries in the 4th quarter worth about $868,000. Equity Investment Corp boosted 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 worth $86,006,000 after acquiring an additional 42,380 shares during the period. JGP Wealth Management LLC purchased a new position in PPG Industries during the 4th quarter valued at about $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 valued at $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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PPG. Seaport Res Ptn cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. KeyCorp lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $138.15.

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PPG Industries Stock Performance

PPG stock traded up $0.10 during trading on Friday, reaching $115.47. 2,170,716 shares of the stock were exchanged, compared to its average volume of 1,622,129. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $26.21 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The stock has a 50 day simple moving average of $116.82 and a 200-day simple moving average of $122.76.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

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

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company's stock.

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.