Truist Financial Corp Sells 6,270 Shares of PPG Industries, Inc. (NYSE:PPG)

Truist Financial Corp cut its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,267 shares of the specialty chemicals company's stock after selling 6,270 shares during the period. Truist Financial Corp's holdings in PPG Industries were worth $9,588,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. lifted its stake in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the third quarter valued at approximately $34,000. Albion Financial Group UT bought a new stake in shares of PPG Industries in the 4th quarter valued at approximately $38,000. Finally, Hara Capital LLC acquired a new position in shares of PPG Industries in the 3rd quarter worth approximately $40,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on PPG. JPMorgan Chase & Co. lowered 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 research note on Wednesday, February 12th. Royal Bank of Canada reduced their target price on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 4th. The Goldman Sachs Group dropped their target price on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Mizuho reduced their price target on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and a consensus price target of $138.15.

PPG Industries Trading Up 0.7 %

Shares of PPG traded up $0.76 during trading hours on Tuesday, hitting $114.29. 2,263,884 shares of the stock traded hands, compared to its average volume of 2,087,677. The business has a fifty day moving average of $117.96 and a 200-day moving average of $123.21. The firm has a market capitalization of $25.94 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 1-year low of $110.20 and a 1-year high of $145.60. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data 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%. Analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. PPG Industries's dividend payout ratio is presently 57.51%.

PPG Industries Company 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.