PPG Industries, Inc. (NYSE:PPG) Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 31.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,088 shares of the specialty chemicals company's stock after selling 88,033 shares during the period. Korea Investment CORP owned 0.08% of PPG Industries worth $23,423,000 as of its most recent filing with the Securities and Exchange Commission.Get PPG Industries alerts:3 Companies Buying Back Stock Before a RallyOther institutional investors and hedge funds have also made changes to their positions in the company. Mutual Advisors LLC grew its holdings in PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock worth $319,000 after acquiring an additional 92 shares during the period. Groupama Asset Managment grew its stake in shares of PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock worth $1,027,000 after purchasing an additional 93 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 worth $51,000 after purchasing an additional 95 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in PPG Industries by 1.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock valued at $990,000 after purchasing an additional 103 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in PPG Industries by 18.4% during the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company's stock worth $81,000 after buying an additional 105 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors. Analysts Set New Price TargetsA number of equities research analysts have recently commented on the company. Citigroup cut 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 Wednesday, December 18th. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. JPMorgan Chase & Co. downgraded PPG Industries from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, Mizuho cut their price target 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. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $138.15.Sherwin-William’s Win Over PPG Stock in The Construction BoomCheck Out Our Latest Report on PPGInsider Transactions at PPG IndustriesIn related news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, 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 document filed with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders. PPG Industries Trading Down 1.0 %The 4 most upgraded stocks in the first week of 2024PPG Industries stock opened at $107.32 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12 month low of $105.64 and a 12 month high of $145.61. The company's fifty day simple moving average is $115.37 and its 200-day simple moving average is $121.20. The stock has a market cap of $24.36 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results 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%. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year. PPG Industries Dividend AnnouncementThe firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries's dividend payout ratio is 57.51%. PPG Industries Profile (Free Report)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.See AlsoFive stocks we like better than PPG Industries3 Best Fintech Stocks for a Portfolio BoostMarketBeat Week in Review – 03/24 - 03/28Market Cap Calculator: How to Calculate Market CapShould You Buy UPS Stock Now? Deep Dive Into Its 5-Year LowMost Volatile Stocks, What Investors Need to Know4 Healthcare Stocks With Massive Gains—and More to ComeWant to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in PPG Industries Right Now?Before you consider PPG Industries, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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