Vinva Investment Management Ltd Sells 2,763 Shares of PPG Industries, Inc. (NYSE:PPG)

Vinva Investment Management Ltd cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 35.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,938 shares of the specialty chemicals company’s stock after selling 2,763 shares during the quarter. Vinva Investment Management Ltd’s holdings in PPG Industries were worth $588,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its holdings in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Albion Financial Group UT acquired a new stake in PPG Industries in the fourth quarter worth $38,000. Crews Bank & Trust acquired a new stake in PPG Industries in the fourth quarter worth $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries in the fourth quarter worth $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of research reports. UBS Group reduced their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. The Goldman Sachs Group reduced their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $138.15.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

PPG Industries Price Performance

PPG opened at $110.75 on Friday. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.19 and a beta of 1.22. 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 firm has a 50-day moving average price of $116.09 and a 200-day moving average price of $121.78. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. Equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.46%. PPG Industries’s payout ratio is 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.