Northern Trust Corp Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Northern Trust Corp raised its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 29.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,638,353 shares of the specialty chemicals company's stock after buying an additional 607,154 shares during the period. Northern Trust Corp owned about 1.14% of PPG Industries worth $315,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its holdings in PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock worth $151,276,000 after purchasing an additional 198,353 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of PPG Industries by 69.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company's stock valued at $7,153,000 after purchasing an additional 22,198 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of PPG Industries by 1.2% during the third quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company's stock valued at $1,763,000 after purchasing an additional 162 shares during the last quarter. Franklin Resources Inc. increased its position in PPG Industries by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock valued at $403,049,000 after buying an additional 170,339 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in PPG Industries by 8.9% during the fourth quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company's stock valued at $731,000 after buying an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PPG. Barclays reissued an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Bank of America restated a "neutral" rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.83.

PPG Industries Trading Down 0.9 %

PPG traded down $1.03 on Tuesday, hitting $109.19. The company had a trading volume of 216,067 shares, compared to its average volume of 1,787,720. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month 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 business's fifty day simple moving average is $106.87 and its 200 day simple moving average is $116.04. The company has a market cap of $24.79 billion, a PE ratio of 23.10, a PEG ratio of 2.19 and a beta of 1.20.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (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 during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries's revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.87 earnings per share. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.49%. PPG Industries's dividend payout ratio is 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.