Truist Financial Corp Sells 6,270 Shares of PPG Industries, Inc. (NYSE:PPG)

Truist Financial Corp lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,267 shares of the specialty chemicals company’s stock after selling 6,270 shares during the quarter. Truist Financial Corp’s holdings in PPG Industries were worth $9,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Insight Folios Inc raised its stake in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after buying an additional 81 shares during the last quarter. Alpha DNA Investment Management LLC raised its stake in PPG Industries by 1.1% in the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after buying an additional 92 shares during the last quarter. Mutual Advisors LLC raised its stake in PPG Industries by 3.6% in the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after buying an additional 92 shares during the last quarter. Groupama Asset Managment raised its stake in PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after buying an additional 93 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after buying an additional 95 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 2.6 %

PPG Industries stock opened at $114.88 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The business’s 50-day moving average price is $118.29 and its 200 day moving average price is $123.22. The firm has a market cap of $26.65 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

Analyst Ratings Changes

PPG has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. Mizuho decreased their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. The Goldman Sachs Group reduced their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.15.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.55% of the stock is owned by corporate insiders.

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.