Ameriprise Financial Inc. Sells 107,466 Shares of PPG Industries, Inc. (NYSE:PPG)

Ameriprise Financial Inc. reduced its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,752,138 shares of the specialty chemicals company's stock after selling 107,466 shares during the period. Ameriprise Financial Inc. owned approximately 1.62% of PPG Industries worth $448,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of PPG Industries by 17.7% in the 4th 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 period. Geode Capital Management LLC increased its stake in PPG Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock worth $660,752,000 after purchasing an additional 93,455 shares in the last quarter. Invesco Ltd. raised its holdings in PPG Industries by 6.1% during the 4th quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock worth $564,596,000 after buying an additional 271,699 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in PPG Industries by 482.2% during the fourth 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 buying an additional 3,592,655 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PPG shares. JPMorgan Chase & Co. dropped their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Bank of America reiterated a "neutral" rating and set a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Finally, UBS Group upped their price target on PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $128.83.

PPG Industries Stock Up 0.7 %

Shares of PPG Industries stock traded up $0.71 during trading on Friday, hitting $109.32. 1,654,754 shares of the stock traded hands, compared to its average volume of 1,801,658. The stock has a market cap of $24.82 billion, a P/E ratio of 23.11, a PEG ratio of 2.19 and a beta of 1.20. The company has a fifty day moving average price of $106.58 and a two-hundred day moving average price of $115.59. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. 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 (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same period in the previous year, the company earned $1.87 earnings per share. The company's revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict 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 will be paid on Thursday, June 12th. Shareholders 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 is Monday, May 12th. PPG Industries's payout ratio is 58.24%.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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.