Sterling Capital Management LLC Has $1.64 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Sterling Capital Management LLC lifted its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 54.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,740 shares of the specialty chemicals company's stock after buying an additional 4,829 shares during the period. Sterling Capital Management LLC's holdings in PPG Industries were worth $1,641,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in PPG Industries in the fourth quarter valued at approximately $27,000. Prudent Man Investment Management Inc. purchased a new position in shares of PPG Industries in the fourth quarter valued at $36,000. Albion Financial Group UT acquired a new stake in PPG Industries during the 4th quarter valued at $38,000. Crews Bank & Trust purchased a new stake in PPG Industries during the 4th quarter worth $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in PPG Industries in the 4th quarter worth $44,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PPG shares. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Bank of America restated a "neutral" rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday. UBS Group cut their price objective on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada dropped their price target on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 4th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $132.31.

PPG Industries Stock Performance

PPG Industries stock traded up $1.58 during trading hours on Friday, reaching $100.00. 2,240,529 shares of the company were exchanged, compared to its average volume of 1,801,972. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.19 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average of $109.37 and a 200 day moving average of $118.04.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

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

Insider Activity at PPG Industries

In related 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 value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company's stock.

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.