Stifel Financial Corp Sells 12,101 Shares of PPG Industries, Inc. (NYSE:PPG)

Stifel Financial Corp decreased its position in PPG Industries, Inc. (NYSE:PPG) by 10.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 105,045 shares of the specialty chemicals company’s stock after selling 12,101 shares during the period. Stifel Financial Corp’s holdings in PPG Industries were worth $12,549,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PPG. Vanguard Group Inc. lifted its position in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after purchasing an additional 756,937 shares in the last quarter. Wellington Management Group LLP lifted its position in 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 worth $1,262,234,000 after buying an additional 1,590,041 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PPG Industries by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company’s stock worth $660,752,000 after buying an additional 93,455 shares during the last quarter. Invesco Ltd. grew its holdings in shares of PPG Industries by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company’s stock valued at $564,596,000 after acquiring an additional 271,699 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $470,535,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PPG. Bank of America reiterated a “neutral” rating and set a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Finally, Citigroup lowered their price target on PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $132.31.

PPG Industries Price Performance

Shares of NYSE PPG opened at $100.00 on Friday. The firm has a market cap of $22.70 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. The business’s 50 day moving average is $109.37 and its 200-day moving average is $118.04. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 return on equity of 23.78% and a net margin of 6.41%. Equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.72%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction 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 represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

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.