Zurcher Kantonalbank Zurich Cantonalbank Sells 5,193 Shares of PPG Industries, Inc. (NYSE:PPG)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,050 shares of the specialty chemicals company’s stock after selling 5,193 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PPG Industries were worth $28,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of PPG Industries by 1.3% during the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after purchasing an additional 252,358 shares during the period. Geode Capital Management LLC increased its stake in PPG Industries by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 4,854,892 shares of the specialty chemicals company’s stock worth $647,037,000 after acquiring an additional 106,294 shares during the period. Moneta Group Investment Advisors LLC increased its stake in PPG Industries by 163,082.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after acquiring an additional 4,155,341 shares during the period. Invesco Ltd. increased its stake in PPG Industries by 41.1% during the 3rd quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after acquiring an additional 959,849 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in PPG Industries by 2.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,193,621 shares of the specialty chemicals company’s stock worth $418,589,000 after acquiring an additional 65,996 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price objective on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research note on Monday, January 22nd. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. Barclays lowered PPG Industries from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $163.00 to $149.00 in a research note on Tuesday, February 27th. UBS Group restated a “neutral” rating and set a $156.00 price objective (down previously from $173.00) on shares of PPG Industries in a research note on Thursday, March 7th. Finally, KeyCorp decreased their price target 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.40.

Insider Activity at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by company insiders.

PPG Industries Trading Down 1.1 %

NYSE PPG opened at $133.52 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a market cap of $31.43 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The business’s fifty day moving average is $140.69 and its 200 day moving average is $138.93.

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

PPG Industries Dividend Announcement

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