TIAA Trust National Association Boosts Position in PPG Industries, Inc. (NYSE:PPG)

TIAA Trust National Association lifted its position in PPG Industries, Inc. (NYSE:PPG) by 18.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,561 shares of the specialty chemicals company’s stock after purchasing an additional 3,078 shares during the quarter. TIAA Trust National Association’s holdings in PPG Industries were worth $2,337,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Legend Financial Advisors Inc. bought a new position in PPG Industries in the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. increased its stake 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 worth $32,000 after buying an additional 200 shares during the period. Albion Financial Group UT bought a new position in shares of PPG Industries during the fourth quarter valued at about $38,000. Crews Bank & Trust bought a new position in PPG Industries during the 4th quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $44,000. 81.86% of the stock is currently owned by institutional investors.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.33% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $111.88 on Thursday. PPG Industries, Inc. has a 1 year low of $108.25 and a 1 year high of $145.61. The firm’s 50-day moving average is $115.85 and its 200 day moving average is $121.45. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) 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 anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries 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.