PPG Industries, Inc. (NYSE:PPG) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 34.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,432 shares of the specialty chemicals company’s stock after selling 213,523 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.17% of PPG Industries worth $52,645,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PPG. Insight Folios Inc raised its holdings in shares of PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after buying an additional 81 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares during the period. Klingman & Associates LLC grew its holdings in PPG Industries by 2.6% during the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 83 shares in the last quarter. Fragasso Financial Advisors Inc increased its stake in PPG Industries by 0.6% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after buying an additional 84 shares during the period. Finally, SeaCrest Wealth Management LLC lifted its holdings in PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock worth $435,000 after buying an additional 86 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Royal Bank of Canada dropped their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Mizuho reduced their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Stock Up 0.8 %

NYSE:PPG opened at $124.43 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 stock has a 50 day moving average of $126.65 and a 200-day moving average of $127.12. The firm has a market capitalization of $28.87 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company earned $2.07 earnings per share. PPG Industries’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

About PPG Industries

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.