PPG Industries, Inc. (NYSE:PPG) Shares Sold by Park National Corp OH

Park National Corp OH lowered its position in PPG Industries, Inc. (NYSE:PPG) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,125 shares of the specialty chemicals company’s stock after selling 340 shares during the period. Park National Corp OH’s holdings in PPG Industries were worth $493,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PPG. State Street Corp lifted its holdings in shares of PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares in the last quarter. Wellington Management Group LLP grew its holdings in PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after buying an additional 485,597 shares during the last quarter. Dimensional Fund Advisors LP increased its position in PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after buying an additional 368,410 shares in the last quarter. FMR LLC raised its holdings in shares of PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after acquiring an additional 354,740 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of PPG Industries by 189.6% in the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after acquiring an additional 279,455 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PPG has been the subject of several analyst reports. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Citigroup decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Mizuho reduced their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered 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 Thursday, December 19th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Stock Down 0.2 %

PPG opened at $115.66 on Thursday. The company has a market cap of $26.83 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 1 year low of $113.49 and a 1 year high of $147.76. The firm has a 50 day moving average price of $122.43 and a 200 day moving average price of $125.22.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the business posted $2.07 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.35%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

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.