PPG Industries, Inc. (NYSE:PPG) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,356,722 shares of the specialty chemicals company’s stock after purchasing an additional 220,152 shares during the period. Franklin Resources Inc. owned 1.45% of PPG Industries worth $400,960,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after buying an additional 756,937 shares in the last quarter. State Street Corp lifted its holdings in 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 during the last quarter. Wellington Management Group LLP boosted its position in shares of PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after purchasing an additional 1,590,041 shares in the last quarter. Norges Bank acquired a new position in shares of PPG Industries in the 4th quarter worth approximately $470,535,000. Finally, Beutel Goodman & Co Ltd. raised its holdings in shares of PPG Industries by 0.3% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 3,338,384 shares of the specialty chemicals company’s stock worth $398,770,000 after purchasing an additional 10,116 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Stock Up 1.9 %

PPG opened at $109.45 on Tuesday. PPG Industries, Inc. has a twelve month low of $105.64 and a twelve month high of $145.61. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The business has a 50 day moving average price of $115.16 and a 200 day moving average price of $121.05. The firm has a market cap of $24.84 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

Wall Street Analyst Weigh In

PPG has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Royal Bank of Canada lowered their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group reduced their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.15.

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.