Mitchell & Pahl Private Wealth LLC Trims Stake in PPG Industries, Inc. (NYSE:PPG)

Mitchell & Pahl Private Wealth LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,817 shares of the specialty chemicals company’s stock after selling 357 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in PPG Industries were worth $934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PPG. State Street Corp raised its holdings in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after acquiring an additional 491,774 shares in the last quarter. Wellington Management Group LLP increased its position in shares of PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares during the last quarter. Franklin Resources Inc. raised its stake in PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock valued at $403,049,000 after purchasing an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PPG Industries by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock worth $248,650,000 after buying an additional 36,047 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.5 %

Shares of NYSE PPG opened at $120.14 on Tuesday. The firm’s fifty day moving average is $121.26 and its 200 day moving average is $124.80. PPG Industries, Inc. has a 52 week low of $113.00 and a 52 week high of $145.86. 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 company has a market cap of $27.87 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.89 and a beta of 1.24.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 43.11%.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PPG shares. Mizuho lowered their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Royal Bank of Canada cut their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Finally, Citigroup dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $149.23.

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.