TIAA Trust National Association Purchases 3,078 Shares of PPG Industries, Inc. (NYSE:PPG)

TIAA Trust National Association increased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC increased its stake in shares of PPG Industries by 3.6% in the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Groupama Asset Managment grew its holdings in PPG Industries by 1.2% during the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock valued at $1,027,000 after purchasing an additional 93 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock worth $51,000 after buying an additional 95 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock worth $990,000 after buying an additional 103 shares during the period. Finally, Sachetta LLC lifted its position in shares of PPG Industries by 18.4% during the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company's stock valued at $81,000 after buying an additional 105 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction 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 sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays restated an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Finally, KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $138.15.

PPG Industries Price Performance

Shares of PPG stock traded up $2.01 on Monday, reaching $109.45. The company's stock had a trading volume of 2,929,889 shares, compared to its average volume of 1,727,977. The stock's fifty day simple moving average is $115.16 and its 200-day simple moving average is $121.05. PPG Industries, Inc. has a 1 year low of $105.64 and a 1 year high of $145.61. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

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

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.49%. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

PPG Industries 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.