Victory Capital Management Inc. Has $52.74 Million Position in PPG Industries, Inc. (NYSE:PPG)

Victory Capital Management Inc. cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 441,532 shares of the specialty chemicals company's stock after selling 15,665 shares during the period. Victory Capital Management Inc. owned approximately 0.19% of PPG Industries worth $52,741,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new position in PPG Industries during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the third quarter valued at about $34,000. Hara Capital LLC bought a new stake in shares of PPG Industries in the third quarter valued at about $40,000. Finally, Albion Financial Group UT bought a new stake in shares of PPG Industries in the fourth quarter valued at about $38,000. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PPG. UBS Group cut their price target on PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company cut their price target on PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Royal Bank of Canada dropped 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. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of "Hold" and an average target price of $138.15.

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Insider Activity

In related 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 completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

PPG Industries Stock Performance

NYSE PPG traded up $0.10 during trading on Friday, reaching $115.47. 2,170,716 shares of the company's stock were exchanged, compared to its average volume of 1,622,129. 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 capitalization of $26.21 billion, a P/E ratio of 24.41, a PEG ratio of 2.19 and a beta of 1.22. The business has a 50 day moving average price of $116.82 and a 200-day moving average price of $122.76. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries's payout ratio is 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.