PPG Industries, Inc. (NYSE:PPG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in PPG Industries, Inc. (NYSE:PPG) by 55.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,047 shares of the specialty chemicals company’s stock after selling 116,808 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PPG Industries were worth $11,353,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. boosted its holdings in PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of PPG Industries in the 4th quarter valued at approximately $38,000. Ashton Thomas Securities LLC acquired a new stake in shares of PPG Industries during the 3rd quarter worth approximately $46,000. Finally, Crews Bank & Trust purchased a new stake in shares of PPG Industries during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PPG. Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Wells Fargo & Company lowered their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group reduced their price target 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. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Price Performance

PPG Industries stock opened at $111.00 on Thursday. The company’s 50 day moving average is $116.45 and its two-hundred day moving average is $122.50. The firm has a market cap of $25.19 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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 $109.15 and a 52-week high of $145.61.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. On average, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

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.