Bruce G. Allen Investments LLC Sells 134 Shares of PPG Industries, Inc. (NYSE:PPG)

Bruce G. Allen Investments LLC lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 12.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 958 shares of the specialty chemicals company’s stock after selling 134 shares during the period. Bruce G. Allen Investments LLC’s holdings in PPG Industries were worth $114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries during the third quarter worth approximately $34,000. Hara Capital LLC purchased a new stake in PPG Industries during the 3rd quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in PPG Industries during the third quarter worth $46,000. Institutional investors own 81.86% of the company’s stock.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PPG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Royal Bank of Canada dropped their price target 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. Mizuho reduced their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Finally, KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Price Performance

NYSE:PPG traded down $2.31 during trading hours on Friday, hitting $113.38. The company’s stock had a trading volume of 942,568 shares, compared to its average volume of 1,987,893. The company has a market capitalization of $26.30 billion, a PE ratio of 17.97, a PEG ratio of 1.90 and a beta of 1.24. PPG Industries, Inc. has a 52-week low of $113.35 and a 52-week high of $147.76. The business’s 50-day moving average is $122.25 and its two-hundred day moving average is $125.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.07 EPS. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a $0.68 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.40%. PPG Industries’s payout ratio is 43.11%.

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.