PPG Industries, Inc. (NYSE:PPG) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 659,100 shares of the specialty chemicals company's stock after selling 37,400 shares during the quarter. Swiss National Bank owned approximately 0.28% of PPG Industries worth $78,729,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPG. State Street Corp raised its position in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock valued at $1,552,100,000 after purchasing an additional 491,774 shares in the last quarter. Wellington Management Group LLP increased 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. Franklin Resources Inc. raised its holdings in PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock valued at $403,049,000 after acquiring an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in PPG Industries by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company's stock valued at $316,349,000 after acquiring an additional 76,626 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PPG Industries by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company's stock valued at $248,650,000 after acquiring an additional 36,047 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Mizuho dropped their target price on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Royal Bank of Canada reduced their target price on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a report on Tuesday, February 4th. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $138.15.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company's stock.

PPG Industries Stock Performance

PPG Industries stock traded down $0.46 during midday trading on Wednesday, reaching $113.11. 1,746,638 shares of the stock traded hands, compared to its average volume of 1,614,928. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61. 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 firm has a market cap of $25.67 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.19 and a beta of 1.22. The firm has a fifty day moving average price of $116.28 and a two-hundred day moving average price of $122.04.

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 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%. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, February 21st. PPG Industries's payout ratio is currently 57.51%.

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.