Vanguard Group Inc. Has $3.51 Billion Position in PPG Industries, Inc. (NYSE:PPG)

Vanguard Group Inc. grew its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,369,691 shares of the specialty chemicals company's stock after purchasing an additional 756,937 shares during the period. Vanguard Group Inc. owned approximately 12.66% of PPG Industries worth $3,508,210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. boosted its holdings 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 valued at $32,000 after acquiring an additional 200 shares during the period. Albion Financial Group UT acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $38,000. Crews Bank & Trust bought a new position in shares of PPG Industries in the fourth quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of PPG Industries during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, December 18th. Barclays reissued an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, PPG Industries has a consensus rating of "Hold" and a consensus price target of $138.15.

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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 stock was sold at an average price of $118.35, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Price Performance

Shares of PPG traded down $1.04 during trading hours on Friday, hitting $107.32. The stock had a trading volume of 3,315,560 shares, compared to its average volume of 1,723,169. PPG Industries, Inc. has a 52 week low of $105.64 and a 52 week high of $145.61. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.19 and a beta of 1.22. The company's fifty day moving average is $115.37 and its two-hundred day moving average is $121.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly 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, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries's dividend payout ratio is currently 57.51%.

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.