Capital Investment Advisors LLC Sells 17,900 Shares of PPG Industries, Inc. (NYSE:PPG)

Capital Investment Advisors LLC reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 27.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 47,811 shares of the specialty chemicals company’s stock after selling 17,900 shares during the quarter. Capital Investment Advisors LLC’s holdings in PPG Industries were worth $5,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PPG. Acadian Asset Management LLC raised its position in PPG Industries by 2,153.3% during the 2nd quarter. Acadian Asset Management LLC now owns 6,512 shares of the specialty chemicals company’s stock valued at $818,000 after purchasing an additional 6,223 shares in the last quarter. American Century Companies Inc. raised its position in PPG Industries by 176.4% during the 2nd quarter. American Century Companies Inc. now owns 226,215 shares of the specialty chemicals company’s stock valued at $28,478,000 after purchasing an additional 144,357 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in PPG Industries by 0.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 27,278 shares of the specialty chemicals company’s stock valued at $3,434,000 after purchasing an additional 206 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in PPG Industries by 5.4% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 11,607 shares of the specialty chemicals company’s stock valued at $1,461,000 after purchasing an additional 595 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in PPG Industries by 20.1% during 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 in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PPG shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

Insider Buying and Selling

In related 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 completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by insiders.

PPG Industries Stock Up 1.3 %

Shares of PPG opened at $114.66 on Tuesday. PPG Industries, Inc. has a 52 week low of $113.00 and a 52 week high of $145.86. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.90 and a beta of 1.24. The stock’s 50-day moving average price is $121.83 and its 200-day moving average price is $124.98.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company earned $2.07 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s payout ratio is 43.11%.

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.