PPG Industries, Inc. (NYSE:PPG) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,102 shares of the specialty chemicals company’s stock after selling 168 shares during the quarter. Fiduciary Trust Co’s holdings in PPG Industries were worth $2,640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in PPG Industries during the fourth quarter valued at about $470,535,000. Kovitz Investment Group Partners LLC boosted its position in shares of PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock valued at $518,132,000 after purchasing an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of PPG Industries by 815.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock worth $362,074,000 after purchasing an additional 2,700,018 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of PPG Industries by 138.9% in the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after purchasing an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in PPG Industries by 17.7% during the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after purchasing an additional 1,590,041 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Up 0.7 %

Shares of NYSE:PPG opened at $109.32 on Friday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $24.82 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The firm has a fifty day moving average of $106.58 and a two-hundred day moving average of $115.67.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s payout ratio is presently 58.24%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Fermium Researc upgraded shares of PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada boosted their target price on PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. UBS Group upped their target price on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and an average target price of $128.83.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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.