Cypress Capital Group Sells 3,172 Shares of PPG Industries, Inc. (NYSE:PPG)

Cypress Capital Group trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 65.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,682 shares of the specialty chemicals company’s stock after selling 3,172 shares during the period. Cypress Capital Group’s holdings in PPG Industries were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. State Street Corp grew its holdings in PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares during the period. Wellington Management Group LLP grew its holdings in PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after purchasing an additional 485,597 shares during the period. FMR LLC grew its holdings in PPG Industries by 68.3% during the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after purchasing an additional 354,740 shares during the period. Assenagon Asset Management S.A. grew its holdings in PPG Industries by 65.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock valued at $62,474,000 after purchasing an additional 206,853 shares during the period. Finally, Barclays PLC grew its holdings in PPG Industries by 21.0% during the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock valued at $151,276,000 after purchasing an additional 198,353 shares during the period. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

NYSE:PPG opened at $115.39 on Friday. The firm has a market capitalization of $26.19 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61. The stock has a fifty day moving average of $116.92 and a 200 day moving average of $122.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last posted 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PPG shares. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $138.15.

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.