Amalgamated Bank Lowers Holdings in PPG Industries, Inc. (NYSE:PPG)

Amalgamated Bank lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 44,682 shares of the specialty chemicals company’s stock after selling 1,183 shares during the period. Amalgamated Bank’s holdings in PPG Industries were worth $5,337,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Mizuho dropped their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company dropped their price objective 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. Finally, Barclays reiterated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries Stock Down 1.1 %

Shares of NYSE PPG opened at $113.80 on Friday. The business has a 50-day moving average of $117.72 and a two-hundred day moving average of $123.09. The company has a market capitalization of $25.83 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. 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 (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. On average, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.39%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated 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 owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.

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.