PPG Industries, Inc. (NYSE:PPG) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 13.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,382 shares of the specialty chemicals company's stock after selling 5,552 shares during the period. M&T Bank Corp's holdings in PPG Industries were worth $3,869,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LRI Investments LLC raised its stake in shares of PPG Industries by 25.3% during the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock valued at $54,000 after acquiring an additional 92 shares in the last quarter. Conning Inc. raised its stake in shares of PPG Industries by 5.5% during the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock valued at $206,000 after acquiring an additional 98 shares in the last quarter. Beacon Capital Management LLC raised its stake in shares of PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after acquiring an additional 101 shares in the last quarter. Chilton Capital Management LLC raised its stake in PPG Industries by 22.6% in the first quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company's stock worth $63,000 after buying an additional 106 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its stake in PPG Industries by 3.7% in the fourth quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company's stock worth $376,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Trading Down 1.5%

Shares of NYSE PPG traded down $1.73 during midday trading on Friday, reaching $117.34. 770,595 shares of the stock were exchanged, compared to its average volume of 1,858,167. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The stock has a market capitalization of $26.64 billion, a P/E ratio of 25.13, a PEG ratio of 2.49 and a beta of 1.16. The company has a 50 day simple moving average of $112.37 and a 200 day simple moving average of $112.23. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter last year, the company posted $1.87 EPS. The firm's revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's dividend payout ratio is currently 58.24%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Wells Fargo & Company upped their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, 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 research note on Tuesday, April 15th. 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $131.83.

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.