Prudential Financial Inc. Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

Prudential Financial Inc. trimmed its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 58.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 162,056 shares of the specialty chemicals company's stock after selling 226,993 shares during the quarter. Prudential Financial Inc. owned 0.07% of PPG Industries worth $19,358,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PPG. Mutual Advisors LLC lifted its stake in PPG Industries by 3.6% in the fourth 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 during the last quarter. Groupama Asset Managment lifted its stake in shares of PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock valued at $1,027,000 after acquiring an additional 93 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock valued at $51,000 after acquiring an additional 95 shares during the period. Kingsview Wealth Management LLC grew its position in PPG Industries by 1.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock worth $990,000 after acquiring an additional 103 shares during the last quarter. Finally, Sachetta LLC increased its stake in PPG Industries by 18.4% in the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company's stock worth $81,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

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PPG Industries Stock Down 1.0 %

Shares of NYSE:PPG traded down $1.04 during midday trading on Friday, reaching $107.32. The company's 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 firm has a market capitalization of $24.36 billion, a P/E ratio of 22.69, a PEG ratio of 2.19 and a beta of 1.22. The firm has a 50 day moving average of $115.37 and a 200-day moving average of $121.23. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. On average, research 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. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is 57.51%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PPG shares. StockNews.com cut shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. downgraded shares of PPG Industries from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft cut their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group dropped 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. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $138.15.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

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.