PPG Industries, Inc. (NYSE:PPG) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 22.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,580,317 shares of the specialty chemicals company's stock after selling 446,436 shares during the period. Legal & General Group Plc owned approximately 0.68% of PPG Industries worth $188,769,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of PPG Industries by 2.6% during 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 buying an additional 756,937 shares during the period. Wellington Management Group LLP boosted its holdings in PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares during the period. Geode Capital Management LLC grew its position in PPG Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after acquiring an additional 93,455 shares in the last quarter. Invesco Ltd. increased its stake in PPG Industries by 6.1% during the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock worth $564,596,000 after purchasing an additional 271,699 shares during the period. Finally, Norges Bank purchased a new stake in PPG Industries during the fourth quarter worth about $470,535,000. Institutional investors and hedge funds own 81.86% of the company's stock.

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PPG Industries Stock Performance

PPG Industries stock traded down $1.37 during midday trading on Tuesday, hitting $100.11. 565,278 shares of the company's stock were exchanged, compared to its average volume of 2,313,426. The firm's 50 day simple moving average is $110.61 and its 200 day simple moving average is $118.75. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market cap of $22.72 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. Equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PPG shares. Bank of America restated a "neutral" rating and issued a $126.00 price objective on shares of PPG Industries in a report on Tuesday. UBS Group decreased their target price on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, January 31st. KeyCorp cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Mizuho decreased their price objective on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and cut their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $132.31.

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.