PPG Industries, Inc. (NYSE:PPG) Holdings Trimmed by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,050 shares of the specialty chemicals company’s stock after selling 5,193 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of PPG Industries worth $28,422,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. FMR LLC boosted its position in shares of PPG Industries by 11.0% in the 3rd quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock valued at $46,512,000 after purchasing an additional 35,571 shares during the period. Nomura Holdings Inc. raised its stake in shares of PPG Industries by 2.3% in the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock valued at $1,101,000 after acquiring an additional 192 shares in the last quarter. Financial Counselors Inc. raised its stake in shares of PPG Industries by 6.4% in the 3rd quarter. Financial Counselors Inc. now owns 1,883 shares of the specialty chemicals company’s stock valued at $244,000 after acquiring an additional 114 shares in the last quarter. Vest Financial LLC raised its stake in shares of PPG Industries by 42.6% in the 4th quarter. Vest Financial LLC now owns 217,865 shares of the specialty chemicals company’s stock valued at $32,582,000 after acquiring an additional 65,073 shares in the last quarter. Finally, Trust Point Inc. bought a new position in shares of PPG Industries in the 4th quarter valued at approximately $1,145,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $133.52 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $31.43 billion, a PE ratio of 25.00, a PEG ratio of 1.61 and a beta of 1.28. PPG Industries, Inc. has a 1-year low of $120.32 and a 1-year high of $152.89. The business’s 50 day moving average is $140.69 and its 200-day moving average is $138.93.

PPG Industries (NYSE:PPG) last posted its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.49 by $0.04. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. PPG Industries’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $1.22 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Thursday, February 15th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, February 15th. This represents a $2.60 annualized dividend and a dividend yield of 1.95%. PPG Industries’s dividend payout ratio (DPR) is presently 48.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PPG shares. KeyCorp cut their price objective on PPG Industries from $167.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Barclays lowered PPG Industries from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $163.00 to $149.00 in a report on Tuesday, February 27th. UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down previously from $173.00) on shares of PPG Industries in a report on Thursday, March 7th. Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $150.00 target price on shares of PPG Industries in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $158.40.

Insider Buying and Selling

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.

PPG Industries 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.