Cambiar Investors LLC Cuts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Cambiar Investors LLC lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 404,608 shares of the specialty chemicals company’s stock after selling 30,942 shares during the quarter. PPG Industries accounts for about 1.9% of Cambiar Investors LLC’s portfolio, making the stock its 20th largest position. Cambiar Investors LLC owned 0.17% of PPG Industries worth $48,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PPG. Insight Folios Inc increased its holdings in PPG Industries by 3.8% in the third 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 last quarter. Alpha DNA Investment Management LLC increased its holdings in PPG Industries by 1.1% in the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after buying an additional 92 shares during the last quarter. Mutual Advisors LLC increased its holdings in PPG Industries by 3.6% in the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after buying an additional 92 shares during the last quarter. Groupama Asset Managment increased its holdings in PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after buying an additional 93 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $114.13 on Tuesday. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The company has a market capitalization of $26.48 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The firm has a 50-day simple moving average of $120.03 and a 200-day simple moving average of $123.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced 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%. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. PPG Industries’s payout ratio is currently 57.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PPG shares. Mizuho dropped their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. The Goldman Sachs Group decreased their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.46.

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.