Keybank National Association OH Has $3.53 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Keybank National Association OH lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 8.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,587 shares of the specialty chemicals company’s stock after selling 2,727 shares during the period. Keybank National Association OH’s holdings in PPG Industries were worth $3,534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of 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 period. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $34,000. Hara Capital LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $40,000. Finally, Albion Financial Group UT acquired a new position in shares of PPG Industries in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 4.5 %

Shares of PPG Industries stock opened at $114.18 on Thursday. The stock has a market capitalization of $25.91 billion, a P/E ratio of 24.14, a PEG 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. The stock has a 50 day moving average price of $117.04 and a two-hundred day moving average price of $122.87. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61.

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

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.38%. PPG Industries’s dividend payout ratio is 57.51%.

Analyst Ratings Changes

PPG has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company dropped their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $138.15.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the 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 completion of the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is owned by company 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.