M&T Bank Corp Has $4.89 Million Position in PPG Industries, Inc. (NYSE:PPG)

M&T Bank Corp cut its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,934 shares of the specialty chemicals company's stock after selling 3,013 shares during the quarter. M&T Bank Corp's holdings in PPG Industries were worth $4,889,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its position in PPG Industries by 4.4% during the 3rd 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 grew its position 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 during the period. Franklin Resources Inc. boosted its stake in PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock worth $403,049,000 after purchasing an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PPG Industries by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company's stock valued at $316,349,000 after acquiring an additional 76,626 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of PPG Industries by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company's stock valued at $248,650,000 after acquiring an additional 36,047 shares during the period. 81.86% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PPG. The Goldman Sachs Group decreased their price objective on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Mizuho decreased their price target on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $138.15.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company's stock.

PPG Industries Trading Up 0.1 %

Shares of PPG Industries stock traded up $0.10 on Friday, reaching $115.47. The company had a trading volume of 2,170,716 shares, compared to its average volume of 1,622,129. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61. The firm's 50 day moving average price is $116.82 and its two-hundred day moving average price is $122.76. 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 firm has a market cap of $26.21 billion, a PE ratio of 24.41, a PEG ratio of 2.19 and a beta of 1.22.

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

PPG Industries Announces Dividend

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

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.