PPG Industries, Inc. (NYSE:PPG) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 27.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,548 shares of the specialty chemicals company's stock after selling 9,901 shares during the quarter. Fifth Third Bancorp's holdings in PPG Industries were worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 worth $3,508,210,000 after acquiring an additional 756,937 shares during the period. Wellington Management Group LLP increased its position in shares of PPG Industries by 17.7% during 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 93,455 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of PPG Industries by 6.1% in 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 last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings 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 worth $518,132,000 after buying an additional 3,592,655 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PPG. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Bank of America reiterated a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Wells Fargo & Company boosted their price target on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada raised their price objective on PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Nine research 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 data from MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and a consensus price target of $129.83.

PPG Industries Trading Up 1.9%

NYSE:PPG traded up $2.00 on Monday, hitting $108.30. The stock had a trading volume of 531,953 shares, compared to its average volume of 1,828,756. The company has a fifty day moving average price of $107.69 and a two-hundred day moving average price of $113.37. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 2.19 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The company had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period in the prior year, the firm earned $1.87 earnings per share. The firm's revenue was down 4.3% compared to the same quarter last year. Equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's dividend payout ratio is presently 58.24%.

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.