PPG Industries, Inc. (NYSE:PPG) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in PPG Industries, Inc. (NYSE:PPG) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,267 shares of the specialty chemicals company’s stock after selling 6,270 shares during the period. Truist Financial Corp’s holdings in PPG Industries were worth $9,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after acquiring an additional 491,774 shares during the last quarter. Wellington Management Group LLP lifted its position 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 worth $1,189,095,000 after buying an additional 485,597 shares in the last quarter. Franklin Resources Inc. lifted its position in PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after buying 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 worth $340,654,000 after buying an additional 15,161 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PPG Industries by 2.0% during the third 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. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PPG shares. Royal Bank of Canada reduced their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group reduced their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Price Performance

PPG stock opened at $114.88 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $26.65 billion, a PE ratio of 24.29, a P/E/G ratio of 2.17 and a beta of 1.23. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60. The business’s fifty day moving average price is $118.29 and its 200 day moving average price is $123.22.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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%. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.37%. PPG Industries’s payout ratio is 57.51%.

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.