Janney Montgomery Scott LLC Sells 5,488 Shares of PPG Industries, Inc. (NYSE:PPG)

Janney Montgomery Scott LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 218,022 shares of the specialty chemicals company’s stock after selling 5,488 shares during the period. Janney Montgomery Scott LLC’s holdings in PPG Industries were worth $26,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Daymark Wealth Partners LLC boosted its holdings in PPG Industries by 6.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 55,166 shares of the specialty chemicals company’s stock worth $6,590,000 after purchasing an additional 3,305 shares during the last quarter. Albion Financial Group UT bought a new position in shares of PPG Industries during the 4th quarter valued at $38,000. Nisa Investment Advisors LLC boosted its stake in shares of PPG Industries by 2.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 46,351 shares of the specialty chemicals company’s stock worth $5,537,000 after buying an additional 979 shares during the last quarter. Aspire Private Capital LLC bought a new stake in shares of PPG Industries in the fourth quarter worth $240,000. Finally, Charles Schwab Trust Co increased its position in PPG Industries by 60.0% during the fourth quarter. Charles Schwab Trust Co now owns 2,628 shares of the specialty chemicals company’s stock valued at $314,000 after acquiring an additional 986 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Price Performance

NYSE:PPG opened at $122.75 on Friday. The business’s 50-day simple moving average is $121.17 and its two-hundred day simple moving average is $124.73. PPG Industries, Inc. has a 52 week low of $113.00 and a 52 week high of $145.60. The stock has a market cap of $28.48 billion, a PE ratio of 19.45, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.22%. PPG Industries’s dividend payout ratio is presently 43.11%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PPG. Citigroup dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Mizuho dropped their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.