PPG Industries, Inc. (NYSE:PPG) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,553,265 shares of the specialty chemicals company’s stock after selling 238,354 shares during the period. Wells Fargo & Company MN’s holdings in PPG Industries were worth $424,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPG. PUREfi Wealth LLC acquired a new position in PPG Industries in the fourth quarter worth approximately $279,000. PFW Advisors LLC acquired a new position in shares of PPG Industries in the 4th quarter worth $868,000. JGP Wealth Management LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $4,050,000. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after purchasing an additional 756,937 shares during the last quarter. Finally, Avanza Fonder AB acquired a new position in shares of PPG Industries in the 4th quarter valued at $2,944,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $98.98 on Friday. PPG Industries, Inc. has a one year low of $97.49 and a one year high of $142.30. The business’s 50-day moving average price is $113.74 and its two-hundred day moving average price is $120.54. 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 company has a market capitalization of $22.47 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed 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 yield of 2.75%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Analyst Ratings Changes

Several research firms have issued reports on PPG. Wells Fargo & Company cut their price objective on PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. UBS Group cut their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Citigroup decreased their target price 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. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $137.77.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% 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.