Hartford Investment Management Co. Has $1.71 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Hartford Investment Management Co. lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,307 shares of the specialty chemicals company’s stock after selling 351 shares during the quarter. Hartford Investment Management Co.’s holdings in PPG Industries were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. boosted its position in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in PPG Industries in the third quarter valued at about $34,000. Albion Financial Group UT acquired a new position in PPG Industries in the fourth quarter worth about $38,000. Finally, Hara Capital LLC bought a new position in PPG Industries during the third quarter worth about $40,000. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PPG. Barclays dropped their target price on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group dropped their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Trading Up 2.8 %

Shares of NYSE PPG opened at $118.05 on Friday. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The firm has a market capitalization of $27.39 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.97 and a beta of 1.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company’s 50 day simple moving average is $119.33 and its 200 day simple moving average is $123.58.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. On average, analysts predict 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. Stockholders 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 dividend yield of 2.30%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

PPG Industries Company 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.