Conning Inc. Sells 168 Shares of PPG Industries, Inc. (NYSE:PPG)

Conning Inc. reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,783 shares of the specialty chemicals company’s stock after selling 168 shares during the period. Conning Inc.’s holdings in PPG Industries were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PPG. PFW Advisors LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at $868,000. Equity Investment Corp raised its stake in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after purchasing an additional 42,380 shares in the last quarter. Ritholtz Wealth Management bought a new stake in PPG Industries during the third quarter worth about $604,000. JGP Wealth Management LLC acquired a new stake in PPG Industries during the fourth quarter worth about $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after buying an additional 15,161 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Down 0.9 %

Shares of NYSE PPG opened at $114.87 on Monday. The company has a 50 day simple moving average of $120.03 and a 200 day simple moving average of $123.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. The firm has a market cap of $26.65 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts forecast that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PPG. Wells Fargo & Company cut their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays reduced their target price on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, UBS Group decreased their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.