Vestmark Advisory Solutions Inc. lowered its stake in PPG Industries, Inc. (NYSE:PPG – Get Rating) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,408 shares of the specialty chemicals company’s stock after selling 977 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in PPG Industries were worth $2,315,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Advisors LLC purchased a new position in shares of PPG Industries in the third quarter worth $27,000. Parkside Financial Bank & Trust raised its holdings in shares of PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 87 shares during the last quarter. New England Asset Management Inc. purchased a new position in shares of PPG Industries during the second quarter worth $33,000. Achmea Investment Management B.V. purchased a new position in shares of PPG Industries during the first quarter worth $40,000. Finally, Horan Securities Inc. purchased a new position in shares of PPG Industries during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.
PPG Industries Price Performance
PPG Industries stock opened at $133.58 on Friday. PPG Industries, Inc. has a 52-week low of $107.06 and a 52-week high of $138.10. The company’s 50 day moving average is $129.04 and its two-hundred day moving average is $124.84. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 0.97. The firm has a market cap of $31.44 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17.
PPG Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 17th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, February 16th. PPG Industries’s dividend payout ratio is presently 57.27%.
Insider Activity at PPG Industries
In related news, Chairman Michael H. Mcgarry sold 61,867 shares of the stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total value of $8,040,235.32. Following the transaction, the chairman now directly owns 183,645 shares of the company’s stock, valued at approximately $23,866,504.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PPG Industries news, Chairman Michael H. Mcgarry sold 61,867 shares of the firm’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the transaction, the chairman now directly owns 183,645 shares of the company’s stock, valued at approximately $23,866,504.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Anne M. Foulkes sold 21,757 shares of the firm’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the transaction, the vice president now directly owns 10,577 shares in the company, valued at $1,357,346.41. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on PPG. Vertical Research cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, January 23rd. Royal Bank of Canada lowered shares of PPG Industries from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $128.00 to $129.00 in a research report on Tuesday, January 10th. KeyCorp raised their price target on shares of PPG Industries from $144.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. Argus raised their price target on shares of PPG Industries from $144.00 to $149.00 in a research report on Monday, January 23rd. Finally, BNP Paribas lowered shares of PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 price target on the stock. in a research report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given 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 $135.84.
PPG Industries Company Profile
PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.
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