Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,819 shares of the specialty chemicals company’s stock after selling 3,905 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in PPG Industries were worth $13,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PPG. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries during the 4th quarter valued at $27,000. Albion Financial Group UT bought a new stake in shares of PPG Industries during the fourth quarter valued at about $38,000. Crews Bank & Trust purchased a new stake in shares of PPG Industries in the fourth quarter worth about $42,000. Sugar Maple Asset Management LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth about $44,000. Finally, Millstone Evans Group LLC bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

PPG Industries stock opened at $107.32 on Friday. The firm has a fifty day simple moving average of $115.37 and a two-hundred day simple moving average of $121.23. PPG Industries, Inc. has a twelve month low of $105.64 and a twelve month high of $145.61. The company has a market capitalization of $24.36 billion, a PE ratio of 22.69, a P/E/G 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 (NYSE:PPG) last issued its earnings results 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%. Research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PPG shares. The Goldman Sachs Group lowered their target price 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. Wells Fargo & Company dropped their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada decreased their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and an average target price of $138.15.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was 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 the SEC website. 0.33% of the stock is currently 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.