Fort Washington Investment Advisors Inc. OH Decreases Holdings in PPG Industries, Inc. (NYSE:PPG)

Fort Washington Investment Advisors Inc. OH trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 23.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,832 shares of the specialty chemicals company’s stock after selling 850 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in PPG Industries were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. PFW Advisors LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $868,000. Equity Investment Corp raised its position in shares of PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after buying an additional 42,380 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of PPG Industries in the third quarter valued at about $604,000. JGP Wealth Management LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its position in PPG Industries by 0.6% during 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. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 0.5 %

Shares of NYSE:PPG opened at $123.52 on Friday. The firm’s 50-day moving average is $121.17 and its two-hundred day moving average is $124.74. 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, Inc. has a 1 year low of $113.00 and a 1 year high of $145.60. The firm has a market capitalization of $28.66 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. 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 dividend on an annualized basis and a dividend yield of 2.20%. PPG Industries’s payout ratio is 43.11%.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Citigroup cut their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.23.

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.