Rockefeller Capital Management L.P. Sells 363,638 Shares of PPG Industries, Inc. (NYSE:PPG)

Rockefeller Capital Management L.P. decreased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 91.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,794 shares of the specialty chemicals company's stock after selling 363,638 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in PPG Industries were worth $4,038,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the 4th quarter worth approximately $27,000. Prudent Man Investment Management Inc. bought a new position in shares of PPG Industries in the fourth quarter worth approximately $36,000. Albion Financial Group UT purchased a new stake in shares of PPG Industries in the fourth quarter worth $38,000. Crews Bank & Trust bought a new stake in shares of PPG Industries during the 4th quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at $44,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $100.00 on Friday. 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 stock's fifty day moving average is $109.37 and its 200 day moving average is $118.04. The firm has a market capitalization of $22.70 billion, a PE ratio of 21.14, a PEG ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) 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, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.72%. PPG Industries's dividend payout ratio is currently 57.51%.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Mizuho dropped their price target on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Seaport Res Ptn cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of "Hold" and an average price target of $132.31.

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.

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