Radnor Capital Management LLC Sells 268 Shares of PPG Industries, Inc. (NYSE:PPG)

Radnor Capital Management LLC reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,962 shares of the specialty chemicals company’s stock after selling 268 shares during the period. Radnor Capital Management LLC’s holdings in PPG Industries were worth $1,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after buying an additional 491,774 shares during the last quarter. Wellington Management Group LLP increased its position in shares of PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after acquiring an additional 485,597 shares during the last quarter. Franklin Resources Inc. lifted its holdings in PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after acquiring an additional 170,339 shares during the period. Charles Schwab Investment Management Inc. boosted its position in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after purchasing an additional 368,410 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of recent analyst reports. Mizuho lowered their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Price Performance

PPG stock opened at $117.63 on Thursday. The firm has a 50 day moving average of $121.66 and a 200-day moving average of $124.91. The firm has a market capitalization of $27.29 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. PPG Industries, Inc. has a 12 month low of $113.00 and a 12 month high of $145.86. 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) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.07 earnings per share. As a group, sell-side analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by company 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.