PPG Industries, Inc. (NYSE:PPG) Shares Purchased by TIAA Trust National Association

TIAA Trust National Association boosted its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,561 shares of the specialty chemicals company's stock after purchasing an additional 3,078 shares during the quarter. TIAA Trust National Association's holdings in PPG Industries were worth $2,337,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PPG. Legend Financial Advisors Inc. acquired a new position in PPG Industries in the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. grew its holdings 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 worth $32,000 after buying an additional 200 shares during the last quarter. Albion Financial Group UT acquired a new position in PPG Industries in the 4th quarter valued at about $38,000. Crews Bank & Trust purchased a new stake in PPG Industries during the 4th quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PPG. JPMorgan Chase & Co. downgraded PPG Industries from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Barclays reissued an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. UBS Group cut their target price on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada decreased their price target on 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. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $138.15.

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Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value 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 legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.

PPG Industries Price Performance

Shares of PPG stock traded down $1.04 during mid-day trading on Friday, reaching $107.32. The stock had a trading volume of 3,315,560 shares, compared to its average volume of 1,723,169. PPG Industries, Inc. has a 12-month low of $105.64 and a 12-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 business has a 50-day simple moving average of $115.37 and a 200 day simple moving average of $121.23. The company has a market cap of $24.36 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG - Get Free Report) last posted its 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 net margin of 6.41% and a return on equity of 23.78%. On average, 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 announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries's payout ratio is currently 57.51%.

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.