Armstrong Fleming & Moore Inc Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

Armstrong Fleming & Moore Inc cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 19.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,843 shares of the specialty chemicals company’s stock after selling 450 shares during the quarter. Armstrong Fleming & Moore Inc’s holdings in PPG Industries were worth $220,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Legend Financial Advisors Inc. purchased a new stake in PPG Industries during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. raised its stake in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in PPG Industries in the third quarter valued at $34,000. Albion Financial Group UT purchased a new stake in PPG Industries during the 4th quarter valued at approximately $38,000. Finally, Hara Capital LLC acquired a new stake in shares of PPG Industries during the third quarter worth $40,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reduced 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. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada lowered their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.15.

Insider Buying and Selling

In other PPG Industries 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 sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

PPG Industries Stock Performance

NYSE:PPG opened at $114.29 on Wednesday. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. The stock has a market capitalization of $25.94 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $117.96 and a 200-day moving average of $123.21.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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%. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

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.