Pacer Advisors Inc. lessened its position in PPG Industries, Inc. (NYSE:PPG – Free Report) by 26.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 34,622 shares of the specialty chemicals company’s stock after selling 12,425 shares during the quarter. Pacer Advisors Inc.’s holdings in PPG Industries were worth $4,136,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. increased its position 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 acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in shares of PPG Industries during the third quarter valued at $34,000. Albion Financial Group UT acquired a new position in shares of PPG Industries during the fourth quarter worth $38,000. Finally, Hara Capital LLC bought a new stake in shares of PPG Industries in the third quarter worth $40,000. 81.86% of the stock is currently owned by institutional investors.
PPG Industries Trading Up 0.3 %
Shares of PPG Industries stock opened at $122.79 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52 week low of $113.00 and a 52 week high of $145.60. The stock has a 50 day moving average price of $121.25 and a two-hundred day moving average price of $124.58. The stock has a market capitalization of $28.49 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24.
PPG Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.22%. PPG Industries’s payout ratio is 43.11%.
Analyst Ratings Changes
Several research analysts have commented on the company. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Citigroup dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and an average target price of $149.23.
View Our Latest Stock Analysis on PPG Industries
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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