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

Fifth Third Bancorp lowered its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 27.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in PPG Industries in the 4th quarter valued at $470,535,000. Kovitz Investment Group Partners LLC lifted 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 valued at $518,132,000 after purchasing an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of PPG Industries by 815.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock valued at $362,074,000 after purchasing an additional 2,700,018 shares during the period. First Eagle Investment Management LLC increased its stake in shares of PPG Industries by 138.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock worth $381,876,000 after purchasing an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP raised 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 worth $1,262,234,000 after purchasing an additional 1,590,041 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PPG shares. UBS Group lifted their price objective on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Argus lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.83.

PPG Industries Trading Down 0.8%

NYSE:PPG traded down $0.86 during trading hours on Tuesday, reaching $108.18. 618,185 shares of the stock were exchanged, compared to its average volume of 1,829,719. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The business has a 50-day moving average of $108.04 and a two-hundred day moving average of $113.26. The company has a market capitalization of $24.56 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.19 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

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, topping the consensus estimate of $1.62 by $0.10. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. PPG Industries's revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 EPS. On average, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were paid a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.51%. PPG Industries's dividend payout ratio (DPR) is 58.24%.

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.