PPG Industries, Inc. (NYSE:PPG) Stake Lessened by Candriam S.C.A.

Candriam S.C.A. lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,690 shares of the specialty chemicals company’s stock after selling 386 shares during the period. Candriam S.C.A.’s holdings in PPG Industries were worth $2,710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PPG. Summit Global Investments purchased a new stake in shares of PPG Industries during the third quarter worth $299,000. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries during the third quarter worth $34,000. Leavell Investment Management Inc. raised its holdings in shares of PPG Industries by 5.4% during the third quarter. Leavell Investment Management Inc. now owns 2,915 shares of the specialty chemicals company’s stock worth $386,000 after acquiring an additional 150 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of PPG Industries during the third quarter worth $1,012,000. Finally, SpiderRock Advisors LLC raised its holdings in shares of PPG Industries by 9.8% during the third quarter. SpiderRock Advisors LLC now owns 7,259 shares of the specialty chemicals company’s stock worth $962,000 after acquiring an additional 649 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PPG shares. UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada lowered their target price 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $138.15.

PPG Industries Trading Up 0.1 %

Shares of PPG stock opened at $115.47 on Monday. The firm has a 50 day moving average price of $116.82 and a two-hundred day moving average price of $122.75. 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 company has a market capitalization of $26.21 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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, analysts predict that PPG Industries, Inc. will post 7.95 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 paid 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 2.36%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by insiders.

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.