River Global Investors LLP Sells 4,615 Shares of PPG Industries, Inc. (NYSE:PPG)

River Global Investors LLP lowered its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 44.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,682 shares of the specialty chemicals company's stock after selling 4,615 shares during the quarter. River Global Investors LLP's holdings in PPG Industries were worth $679,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in PPG Industries by 14.3% in the third quarter. Farther Finance Advisors LLC now owns 2,445 shares of the specialty chemicals company's stock worth $324,000 after purchasing an additional 306 shares during the period. Van ECK Associates Corp lifted its position in PPG Industries by 15.5% in the third quarter. Van ECK Associates Corp now owns 39,801 shares of the specialty chemicals company's stock worth $5,026,000 after purchasing an additional 5,329 shares during the period. Foster & Motley Inc. acquired a new position in PPG Industries during the third quarter worth about $210,000. Summit Global Investments bought a new stake in shares of PPG Industries in the 3rd quarter worth approximately $299,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Down 2.1 %

Shares of NYSE PPG traded down $2.43 during mid-day trading on Wednesday, hitting $111.00. The company had a trading volume of 1,824,279 shares, compared to its average volume of 1,627,820. 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 firm has a 50-day simple moving average of $116.62 and a two-hundred day simple moving average of $122.58. The company has a market capitalization of $25.19 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a one year low of $109.15 and a one year high of $145.61.

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

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PPG shares. Royal Bank of Canada decreased their price objective on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday. StockNews.com downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Finally, KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, PPG Industries has an average rating of "Hold" and an average price target of $138.15.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction 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 transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.55% of the company's stock.

About PPG Industries

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.