Russell Investments Group Ltd. Cuts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Russell Investments Group Ltd. lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 178,721 shares of the specialty chemicals company's stock after selling 67,017 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of PPG Industries worth $21,337,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in shares of PPG Industries by 10.0% in the 3rd quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company's stock valued at $4,824,000 after purchasing an additional 3,300 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of PPG Industries during the third quarter valued at about $838,000. National Bank of Canada FI increased its holdings in shares of PPG Industries by 56.1% in the third quarter. National Bank of Canada FI now owns 119,674 shares of the specialty chemicals company's stock worth $15,852,000 after buying an additional 43,031 shares during the period. Zacks Investment Management bought a new stake in shares of PPG Industries in the 3rd quarter valued at about $221,000. Finally, Barclays PLC grew its position in PPG Industries by 21.0% during the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock worth $151,276,000 after acquiring an additional 198,353 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Down 1.3 %

PPG stock traded down $1.34 during mid-day trading on Tuesday, reaching $100.15. 515,921 shares of the stock traded hands, compared to its average volume of 1,792,473. The business has a 50-day moving average price of $110.61 and a two-hundred day moving average price of $118.75. The stock has a market capitalization of $22.73 billion, a PE ratio of 21.18, a PEG ratio of 2.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.72%. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of PPG Industries from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Wells Fargo & Company lowered their price objective on shares of PPG Industries from $130.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Bank of America restated a "neutral" rating and issued a $126.00 price target on shares of PPG Industries in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of "Hold" and a consensus target price of $132.31.

PPG Industries Company 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.