PNC Financial Services Group Inc. Sells 5,085 Shares of PPG Industries, Inc. (NYSE:PPG)

PNC Financial Services Group Inc. trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,025,620 shares of the specialty chemicals company's stock after selling 5,085 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.44% of PPG Industries worth $122,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $82,071,000. State Street Corp lifted its stake 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 acquiring an additional 491,774 shares during the period. Wellington Management Group LLP boosted its holdings in PPG Industries by 5.7% in the third 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 position 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 purchasing an additional 354,740 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in PPG Industries by 65.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company's stock worth $62,474,000 after purchasing an additional 206,853 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 4th. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday. UBS Group lowered their price objective on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, January 31st. StockNews.com lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Finally, Citigroup lowered their price objective 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. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $138.15.

PPG Industries Stock Up 0.1 %

Shares of PPG stock traded up $0.10 during trading hours on Friday, hitting $115.47. 2,170,716 shares of the company's stock traded hands, compared to its average volume of 1,622,129. The stock's fifty day simple moving average is $116.82 and its two-hundred day simple moving average is $122.75. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61. The stock has a market cap of $26.21 billion, a price-to-earnings ratio of 24.41, a PEG 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.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

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

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by insiders.

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.