Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Sells 1,189 Shares of PPG Industries, Inc. (NYSE:PPG)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,374 shares of the specialty chemicals company’s stock after selling 1,189 shares during the quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in PPG Industries were worth $1,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Connor Clark & Lunn Investment Management Ltd. bought a new stake in PPG Industries during the fourth quarter worth about $315,000. Truvestments Capital LLC lifted its position in PPG Industries by 13.3% during the fourth quarter. Truvestments Capital LLC now owns 1,657 shares of the specialty chemicals company’s stock worth $198,000 after purchasing an additional 194 shares during the period. Sequoia Financial Advisors LLC lifted its position in PPG Industries by 14.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,995 shares of the specialty chemicals company’s stock worth $716,000 after purchasing an additional 738 shares during the period. HighTower Advisors LLC lifted its position in PPG Industries by 8.8% during the fourth quarter. HighTower Advisors LLC now owns 81,394 shares of the specialty chemicals company’s stock worth $9,723,000 after purchasing an additional 6,557 shares during the period. Finally, Wealthfront Advisers LLC lifted its position in PPG Industries by 256.2% during the fourth quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company’s stock worth $2,838,000 after purchasing an additional 17,090 shares during the period. 81.86% of the stock is owned by institutional investors.

Insider Activity at PPG Industries

In related 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 value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PPG has been the subject of several research analyst reports. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. UBS Group lowered their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Mizuho lowered their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PPG Industries currently has an average rating of “Hold” and an average target price of $138.15.

PPG Industries Stock Performance

PPG Industries stock opened at $111.00 on Thursday. The business has a 50 day moving average of $116.45 and a 200-day moving average of $122.50. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. The company has a market capitalization of $25.19 billion, a P/E ratio of 23.47, a P/E/G 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 announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.45%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

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.