Montag A & Associates Inc. Lowers Stock Position in PPG Industries, Inc. (NYSE:PPG)

Montag A & Associates Inc. lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 17.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,525 shares of the specialty chemicals company’s stock after selling 3,457 shares during the quarter. Montag A & Associates Inc.’s holdings in PPG Industries were worth $1,974,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Exchange Traded Concepts LLC grew its position in PPG Industries by 156.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the specialty chemicals company’s stock worth $154,000 after acquiring an additional 707 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in PPG Industries by 7.1% during the third quarter. Vontobel Holding Ltd. now owns 3,426 shares of the specialty chemicals company’s stock worth $454,000 after purchasing an additional 227 shares during the last quarter. Good Life Advisors LLC boosted its holdings in shares of PPG Industries by 6.2% in the 3rd quarter. Good Life Advisors LLC now owns 2,461 shares of the specialty chemicals company’s stock worth $326,000 after purchasing an additional 143 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of PPG Industries by 11.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,871 shares of the specialty chemicals company’s stock valued at $3,427,000 after purchasing an additional 2,652 shares during the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of PPG Industries during the 3rd quarter valued at about $268,000. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PPG. The Goldman Sachs Group cut their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Price Performance

Shares of PPG stock opened at $117.75 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market cap of $27.32 billion, a P/E ratio of 24.89, a P/E/G ratio of 1.97 and a beta of 1.23. The business’s 50 day moving average price is $119.02 and its 200-day moving average price is $123.44. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.31%. PPG Industries’s payout ratio is 57.51%.

About PPG Industries

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.