PPG Industries, Inc. (NYSE:PPG) Shares Sold by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH decreased its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 42.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,217 shares of the specialty chemicals company's stock after selling 7,467 shares during the period. Siemens Fonds Invest GmbH's holdings in PPG Industries were worth $1,220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PPG. PUREfi Wealth LLC bought a new stake in PPG Industries in the fourth quarter worth about $279,000. JGP Wealth Management LLC purchased a new position in PPG Industries during the 4th quarter valued at $4,050,000. Vanguard Group Inc. grew its position in PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. Avanza Fonder AB purchased a new stake in PPG Industries in the fourth quarter worth $2,944,000. Finally, Lebenthal Global Advisors LLC purchased a new stake in shares of PPG Industries during the fourth quarter valued at $409,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Down 0.2%

Shares of PPG Industries stock traded down $0.23 on Thursday, reaching $111.02. The stock had a trading volume of 838,670 shares, compared to its average volume of 2,202,738. 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 stock has a market capitalization of $25.20 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a 50 day moving average price of $106.50 and a 200 day moving average price of $114.96. 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 released its quarterly 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 business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 earnings per share. As a group, equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's dividend payout ratio is currently 58.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Mizuho lowered their price objective on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Wall Street Zen 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 dropped their price objective 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. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company upped their target price on PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $128.42.

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.