PPG Industries, Inc. (NYSE:PPG) Shares Sold by Man Group plc

Man Group plc cut its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 67.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,121 shares of the specialty chemicals company's stock after selling 227,663 shares during the period. Man Group plc's holdings in PPG Industries were worth $13,154,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. PUREfi Wealth LLC purchased a new position in shares of PPG Industries during the fourth quarter worth approximately $279,000. Vanguard Group Inc. increased its holdings in PPG Industries by 2.6% during 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 purchasing an additional 756,937 shares during the period. Avanza Fonder AB purchased a new stake in shares of PPG Industries in the 4th quarter worth $2,944,000. Lebenthal Global Advisors LLC bought a new position in shares of PPG Industries during the 4th quarter worth $409,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of PPG Industries during the fourth quarter valued at $2,543,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PPG shares. StockNews.com downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. The Goldman Sachs Group cut their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Bank of America reissued a "neutral" rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company raised their target price on shares of PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PPG Industries currently has an average rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries Stock Performance

PPG Industries stock traded down $2.49 during trading hours on Wednesday, hitting $111.30. 1,245,693 shares of the stock traded hands, compared to its average volume of 1,819,145. The firm's 50 day moving average price is $106.54 and its 200-day moving average price is $114.98. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market capitalization of $25.26 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating 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 firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the firm earned $1.87 earnings per share. PPG Industries's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.44%. PPG Industries's payout ratio is currently 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.