Stifel Financial Corp Sells 12,101 Shares of PPG Industries, Inc. (NYSE:PPG)

Stifel Financial Corp lowered its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,045 shares of the specialty chemicals company's stock after selling 12,101 shares during the quarter. Stifel Financial Corp's holdings in PPG Industries were worth $12,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC raised its stake in shares of PPG Industries by 21.0% in the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock valued at $151,276,000 after buying an additional 198,353 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in PPG Industries by 69.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company's stock worth $7,153,000 after purchasing an additional 22,198 shares during the period. Tidal Investments LLC boosted its holdings in PPG Industries by 1.2% during the third quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company's stock valued at $1,763,000 after purchasing an additional 162 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of PPG Industries by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock valued at $403,049,000 after purchasing an additional 170,339 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of PPG Industries by 8.9% in the 4th quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company's stock worth $731,000 after buying an additional 498 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Up 1.6 %

Shares of NYSE:PPG opened at $100.00 on Friday. 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 stock has a market cap of $22.70 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 2.19 and a beta of 1.16. The company has a 50 day moving average of $109.37 and a 200-day moving average of $118.04. PPG Industries, Inc. has a one year low of $90.24 and a one year 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 EPS 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, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. StockNews.com downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Seaport Res Ptn downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, UBS Group decreased their price target on PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $132.31.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly 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 document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

About PPG Industries

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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