Raymond James Financial Inc. Buys Shares of 687,071 PPG Industries, Inc. (NYSE:PPG)

Raymond James Financial Inc. acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 687,071 shares of the specialty chemicals company's stock, valued at approximately $82,071,000. Raymond James Financial Inc. owned approximately 0.30% of PPG Industries as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock worth $1,552,100,000 after buying an additional 491,774 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 worth $1,189,095,000 after buying an additional 485,597 shares during the last quarter. FMR LLC lifted its stake in shares of PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock worth $115,757,000 after buying an additional 354,740 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of PPG Industries by 65.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company's stock worth $62,474,000 after buying an additional 206,853 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock worth $151,276,000 after buying an additional 198,353 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 of the company's stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company's stock.

PPG Industries Price Performance

Shares of PPG traded down $2.43 during trading hours on Wednesday, hitting $111.00. The stock had a trading volume of 1,824,279 shares, compared to its average volume of 1,628,641. The company's fifty day moving average is $116.45 and its two-hundred day moving average is $122.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61. The stock has a market capitalization of $25.19 billion, a price-to-earnings ratio of 23.47, a P/E/G 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 return on equity of 23.78% and a net margin of 6.41%. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries's payout ratio is 57.51%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PPG. Royal Bank of Canada cut their target price on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. UBS Group cut their target price on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. cut shares of PPG Industries from an "overweight" rating to a "neutral" rating and cut their target price for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company cut their target price on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $138.15.

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.