D.B. Root & Company LLC Reduces Position in PPG Industries, Inc. (NYSE:PPG)

D.B. Root & Company LLC reduced its holdings in PPG Industries, Inc. (NYSE:PPG) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,286 shares of the specialty chemicals company’s stock after selling 555 shares during the period. D.B. Root & Company LLC’s holdings in PPG Industries were worth $870,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PFW Advisors LLC purchased a new position in PPG Industries in the 4th quarter worth approximately $868,000. Equity Investment Corp increased its holdings 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 purchasing 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 approximately $604,000. JGP Wealth Management LLC purchased a new position in PPG Industries during the fourth quarter worth approximately $4,050,000. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 15,161 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the 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 $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Trading Down 0.3 %

Shares of NYSE PPG opened at $122.94 on Thursday. The stock has a fifty day simple moving average of $121.17 and a 200-day simple moving average of $124.74. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve 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. The stock has a market capitalization of $28.52 billion, a PE ratio of 19.48, a PEG ratio of 1.94 and a beta of 1.24.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.21%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PPG shares. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Citigroup reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. 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 report on Friday, October 18th. Finally, Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.23.

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.