American International Group Inc. Lowers Position in PPG Industries, Inc. (NYSE:PPG)

American International Group Inc. cut its holdings in PPG Industries, Inc. (NYSE:PPGGet Rating) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,960 shares of the specialty chemicals company’s stock after selling 774 shares during the quarter. American International Group Inc.’s holdings in PPG Industries were worth $13,961,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new stake in shares of PPG Industries in the 4th quarter worth $35,000. Covestor Ltd purchased a new position in shares of PPG Industries during the 4th quarter valued at about $47,000. Missouri Trust & Investment Co bought a new position in shares of PPG Industries in the fourth quarter worth approximately $48,000. Concord Wealth Partners purchased a new stake in PPG Industries in the 4th quarter worth $49,000. Finally, KRS Capital Management LLC bought a new stake in PPG Industries during the 4th quarter valued at approximately $53,000. Institutional investors own 79.12% of the company’s stock.

Shares of NYSE:PPG opened at $121.46 on Wednesday. The business has a fifty day simple moving average of $128.95 and a 200-day simple moving average of $145.93. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 1.08. PPG Industries, Inc. has a 52 week low of $111.32 and a 52 week high of $182.97. The company has a market cap of $28.69 billion, a P/E ratio of 26.93, a P/E/G ratio of 1.43 and a beta of 1.15.

PPG Industries (NYSE:PPGGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.25. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.24 billion. PPG Industries had a net margin of 6.26% and a return on equity of 23.41%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 EPS. Sell-side analysts expect that PPG Industries, Inc. will post 7.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Tuesday, May 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.94%. The ex-dividend date is Monday, May 9th. PPG Industries’s dividend payout ratio is currently 52.33%.

PPG has been the subject of a number of recent research reports. Jefferies Financial Group cut their target price on shares of PPG Industries from $170.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday, March 9th. Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating and set a $138.00 target price for the company. in a research note on Friday, April 1st. Morgan Stanley lowered their price objective on shares of PPG Industries from $175.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Berenberg Bank cut PPG Industries from a “buy” rating to a “hold” rating and dropped their target price for the company from $180.00 to $140.00 in a research report on Friday, May 20th. Finally, Barclays reduced their price objective on shares of PPG Industries from $175.00 to $150.00 in a research note on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and an average target price of $165.70.

In other PPG Industries news, EVP Rebecca B. Liebert sold 30,086 shares of PPG Industries stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $129.90, for a total value of $3,908,171.40. Following the completion of the transaction, the executive vice president now directly owns 24,693 shares in the company, valued at $3,207,620.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

About PPG Industries (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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