PPG Industries, Inc. (NYSE:PPG) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 118,556 shares of the specialty chemicals company's stock after selling 26,941 shares during the period. Voya Investment Management LLC owned about 0.05% of PPG Industries worth $14,162,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. PUREfi Wealth LLC acquired a new stake in PPG Industries in the fourth quarter valued at approximately $279,000. PFW Advisors LLC acquired a new position in PPG Industries during the fourth quarter worth $868,000. JGP Wealth Management LLC purchased a new position in PPG Industries during the fourth quarter valued at $4,050,000. Vanguard Group Inc. increased its stake in shares of PPG Industries by 2.6% during the fourth 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 in the last quarter. Finally, Avanza Fonder AB acquired a new position in shares of PPG Industries during the 4th quarter worth about $2,944,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on PPG shares. Bank of America reissued a "neutral" rating and set a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company raised their price target on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Citigroup lowered their target price on PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $128.83.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction 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 approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

PPG Industries Stock Up 1.5 %

PPG traded up $1.68 during trading hours on Friday, hitting $110.45. 2,083,858 shares of the company's stock were exchanged, compared to its average volume of 1,796,192. The firm has a market cap of $25.07 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $107.05 and a 200 day moving average of $116.52.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period last year, the firm earned $1.87 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.46%. PPG Industries's dividend payout ratio (DPR) is 57.51%.

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.