Comerica Bank Has $14.63 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Comerica Bank trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,497 shares of the specialty chemicals company’s stock after selling 4,808 shares during the period. Comerica Bank owned about 0.05% of PPG Industries worth $14,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Mutual Advisors LLC increased its stake in PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after purchasing an additional 92 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after acquiring an additional 95 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in PPG Industries by 1.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock worth $990,000 after purchasing an additional 103 shares during the period. Sachetta LLC increased its holdings in PPG Industries by 18.4% during the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock worth $81,000 after purchasing an additional 105 shares in the last quarter. Finally, Savant Capital LLC raised its stake in shares of PPG Industries by 0.9% in the 4th quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock valued at $1,407,000 after purchasing an additional 107 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PPG shares. Mizuho lowered their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada cut their price target on shares of 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. UBS Group raised their price objective on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup dropped their target price on PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price objective on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Hold” and a consensus target price of $129.42.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $108.85 on Friday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The stock’s 50 day moving average is $107.05 and its 200-day moving average is $116.52. 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 firm has a market capitalization of $24.71 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same period in the previous year, the company posted $1.87 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders 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 dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s payout ratio is currently 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.