PPG Industries, Inc. (NYSE:PPG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in PPG Industries, Inc. (NYSE:PPG) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,551 shares of the specialty chemicals company’s stock after selling 1,405 shares during the period. Mutual of America Capital Management LLC’s holdings in PPG Industries were worth $4,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its stake 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 in the last quarter. Nomura Holdings Inc. lifted 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 purchasing an additional 192 shares in the last quarter. Financial Counselors Inc. lifted 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 purchasing an additional 114 shares in the last quarter. Vest Financial LLC raised its holdings in shares of PPG Industries by 42.6% during the 4th quarter. Vest Financial LLC now owns 217,865 shares of the specialty chemicals company’s stock valued at $32,582,000 after buying an additional 65,073 shares during the period. Finally, Trust Point Inc. purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $1,145,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PPG. UBS Group reiterated a “neutral” rating and set a $156.00 target price (down from $173.00) on shares of PPG Industries in a report on Thursday, March 7th. Robert W. Baird reiterated an “outperform” rating and set a $150.00 target price on shares of PPG Industries in a report on Friday, January 19th. Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $163.00 to $149.00 in a report on Tuesday, February 27th. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Wolfe Research began coverage on PPG Industries in a report on Friday, March 1st. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $158.40.

PPG Industries Price Performance

Shares of NYSE PPG opened at $135.02 on Tuesday. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. 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 company has a market capitalization of $31.78 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The business has a 50 day simple moving average of $140.82 and a 200-day simple moving average of $138.90.

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

PPG Industries Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.93%. PPG Industries’s dividend payout ratio is currently 48.69%.

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.