PPG Industries, Inc. (NYSE:PPG) Stake Cut by Armstrong Fleming & Moore Inc

Armstrong Fleming & Moore Inc trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 19.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in PPG Industries by 15.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock valued at $2,030,000 after purchasing an additional 2,047 shares in the last quarter. Private Advisor Group LLC raised its position in PPG Industries by 6.9% during the third quarter. Private Advisor Group LLC now owns 12,123 shares of the specialty chemicals company’s stock valued at $1,606,000 after acquiring an additional 781 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PPG Industries by 20.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,457 shares of the specialty chemicals company’s stock worth $3,291,000 after purchasing an additional 4,212 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of PPG Industries by 9.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,826 shares of the specialty chemicals company’s stock worth $242,000 after buying an additional 152 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in shares of PPG Industries by 6.0% in the third quarter. J.W. Cole Advisors Inc. now owns 12,308 shares of the specialty chemicals company’s stock worth $1,630,000 after purchasing an additional 701 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Up 0.7 %

NYSE PPG opened at $114.29 on Wednesday. The stock has a market cap of $25.94 billion, a P/E ratio of 24.16, a P/E/G ratio of 2.19 and a beta of 1.23. The stock’s fifty day moving average price is $117.96 and its 200-day moving average price is $123.21. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued 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%. As a group, equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal 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 issued a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.38%. PPG Industries’s payout ratio is currently 57.51%.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of a number of research reports. Barclays restated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Mizuho lowered their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. 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 note on Tuesday, February 4th. Finally, Citigroup lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.15.

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.