Conning Inc. lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 15,092 shares of the specialty chemicals company’s stock after selling 120 shares during the period. Conning Inc.’s holdings in PPG Industries were worth $1,660,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can increased its position in PPG Industries by 1.7% in the first quarter. Bank of Montreal Can now owns 178,854 shares of the specialty chemicals company’s stock valued at $18,793,000 after buying an additional 3,071 shares during the period. Arvest Bank Trust Division acquired a new position in PPG Industries during the first quarter valued at $252,000. Doyle Wealth Management acquired a new position in PPG Industries during the first quarter valued at $631,000. Palisade Capital Management LLC NJ increased its position in PPG Industries by 40.0% in the first quarter. Palisade Capital Management LLC NJ now owns 67,897 shares of the specialty chemicals company’s stock valued at $7,135,000 after buying an additional 19,400 shares during the period. Finally, DnB Asset Management AS increased its position in PPG Industries by 176.8% in the first quarter. DnB Asset Management AS now owns 84,186 shares of the specialty chemicals company’s stock valued at $8,846,000 after buying an additional 53,770 shares during the period. Hedge funds and other institutional investors own 71.54% of the company’s stock.

Shares of PPG Industries, Inc. (NYSE PPG) opened at 102.56 on Tuesday. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67. The company has a 50-day moving average of $108.00 and a 200-day moving average of $106.24. The stock has a market capitalization of $26.30 billion, a P/E ratio of 26.98 and a beta of 1.54.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.83. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. Equities analysts expect that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be issued a $0.45 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.76%. PPG Industries’s dividend payout ratio is currently 46.88%.

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Several equities analysts have weighed in on PPG shares. Jefferies Group LLC restated a “buy” rating and set a $120.00 target price (up from $113.00) on shares of PPG Industries in a report on Tuesday, April 18th. Deutsche Bank AG restated a “hold” rating and set a $110.00 target price (up from $102.00) on shares of PPG Industries in a report on Sunday, April 23rd. Barclays PLC raised their target price on shares of PPG Industries from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, April 24th. TheStreet upgraded shares of PPG Industries from a “c+” rating to a “b+” rating in a report on Monday, May 22nd. Finally, Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their target price for the company from $110.61 to $136.00 in a report on Wednesday, July 5th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $114.50.

In other news, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares in the company, valued at approximately $5,316,998.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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