12th Street Asset Management Company LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG – Free Report) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,979 shares of the specialty chemicals company’s stock after selling 6,366 shares during the period. PPG Industries accounts for approximately 3.2% of 12th Street Asset Management Company LLC’s holdings, making the stock its 17th biggest holding. 12th Street Asset Management Company LLC’s holdings in PPG Industries were worth $19,468,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC increased its stake in PPG Industries by 1.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock worth $1,105,000 after acquiring an additional 92 shares during the last quarter. Mutual Advisors LLC increased its stake in PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after acquiring an additional 92 shares during the last quarter. Groupama Asset Managment increased its stake in PPG Industries by 1.2% during the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after acquiring an additional 93 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake 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 worth $51,000 after purchasing an additional 95 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock worth $990,000 after purchasing an additional 103 shares during the last quarter. 81.86% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on PPG shares. Mizuho decreased their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reduced their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.15.
Insider Transactions at PPG Industries
In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.
PPG Industries Stock Up 0.4 %
Shares of PPG opened at $111.44 on Friday. The stock’s 50 day moving average is $116.37 and its two-hundred day moving average is $122.43. PPG Industries, Inc. has a 12 month low of $109.15 and a 12 month high of $145.61. The firm has a market cap of $25.29 billion, a P/E ratio of 23.56, a PEG ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.
PPG Industries (NYSE:PPG – Get Free Report) last announced its 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 net margin of 6.41% and a return on equity of 23.78%. Analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.
PPG Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.44%. PPG Industries’s payout ratio is currently 57.51%.
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.
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