Gotham Asset Management LLC lessened its position in PPG Industries, Inc. (NYSE:PPG) by 93.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,342 shares of the specialty chemicals company’s stock after selling 190,505 shares during the quarter. Gotham Asset Management LLC’s holdings in PPG Industries were worth $1,467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. Vanguard Group Inc. boosted its holdings in shares of PPG Industries by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,751,232 shares of the specialty chemicals company’s stock worth $2,171,845,000 after purchasing an additional 310,086 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of PPG Industries by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,544,989 shares of the specialty chemicals company’s stock worth $1,948,708,000 after purchasing an additional 216,278 shares during the period. BlackRock Inc. boosted its holdings in shares of PPG Industries by 2,006.8% during the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after purchasing an additional 13,902,595 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of PPG Industries by 4.7% during the first quarter. Clearbridge Investments LLC now owns 4,991,865 shares of the specialty chemicals company’s stock worth $524,545,000 after purchasing an additional 222,376 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of PPG Industries by 639.5% during the first quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock worth $442,716,000 after purchasing an additional 3,643,443 shares during the period. 73.93% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Viktoras R. Sekmakas sold 18,616 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the sale, the insider now directly owns 15,545 shares of the company’s stock, valued at $1,593,207.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Glenn E. Bost II sold 19,812 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the sale, the vice president now directly owns 52,748 shares in the company, valued at $5,316,998.40. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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A number of research firms have recently weighed in on PPG. Deutsche Bank AG increased their target price on shares of PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, July 21st. BidaskClub lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Robert W. Baird restated a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a report on Friday, September 1st. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $109.00 price objective on shares of PPG Industries in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $115.67.

PPG Industries, Inc. (NYSE PPG) opened at 113.17 on Tuesday. The stock’s 50 day moving average is $108.15 and its 200 day moving average is $107.69. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $114.15. The stock has a market cap of $29.03 billion, a PE ratio of 29.77 and a beta of 1.55.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post $6.00 EPS for the current year.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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

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