PPG Industries, Inc. (NYSE:PPG) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 56.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,904 shares of the specialty chemicals company's stock after selling 364,925 shares during the period. Principal Financial Group Inc. owned about 0.12% of PPG Industries worth $36,944,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PPG. State of Michigan Retirement System boosted its stake in shares of PPG Industries by 4.3% during the second quarter. State of Michigan Retirement System now owns 67,443 shares of the specialty chemicals company's stock valued at $8,490,000 after purchasing an additional 2,800 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in PPG Industries during the second quarter valued at approximately $231,000. Kintegral Advisory LLC acquired a new stake in PPG Industries in the second quarter valued at approximately $762,000. Cambiar Investors LLC lifted its holdings in shares of PPG Industries by 9.3% during the 2nd quarter. Cambiar Investors LLC now owns 427,930 shares of the specialty chemicals company's stock valued at $53,872,000 after purchasing an additional 36,338 shares during the last quarter. Finally, Liberty Capital Management Inc. boosted its position in shares of PPG Industries by 6.4% in the 2nd quarter. Liberty Capital Management Inc. now owns 2,746 shares of the specialty chemicals company's stock worth $346,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Performance

Shares of PPG traded up $0.83 during midday trading on Tuesday, reaching $120.98. 539,027 shares of the stock were exchanged, compared to its average volume of 1,634,723. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $150.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market capitalization of $28.07 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.90 and a beta of 1.24. The business's 50-day moving average price is $124.82 and its 200 day moving average price is $126.09.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 earnings per share. On average, sell-side analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries's dividend payout ratio (DPR) is presently 43.11%.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PPG shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. StockNews.com lowered shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday. JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a report on Friday, October 18th. Royal Bank of Canada lowered their target price on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $149.29.

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.