Asset Dedication LLC Increases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Asset Dedication LLC lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 1,542.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,759 shares of the specialty chemicals company’s stock after purchasing an additional 2,591 shares during the period. Asset Dedication LLC’s holdings in PPG Industries were worth $330,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lebenthal Global Advisors LLC acquired a new position in shares of PPG Industries in the fourth quarter worth $409,000. Union Bancaire Privee UBP SA purchased a new stake in PPG Industries during the 4th quarter worth about $2,543,000. Blue Trust Inc. raised its stake in PPG Industries by 12.9% in the 4th quarter. Blue Trust Inc. now owns 4,102 shares of the specialty chemicals company’s stock valued at $543,000 after purchasing an additional 469 shares during the last quarter. Monte Financial Group LLC lifted its holdings in PPG Industries by 1.6% in the 4th quarter. Monte Financial Group LLC now owns 27,688 shares of the specialty chemicals company’s stock valued at $3,307,000 after purchasing an additional 432 shares in the last quarter. Finally, CFS Investment Advisory Services LLC boosted its stake in shares of PPG Industries by 3.4% during the 4th quarter. CFS Investment Advisory Services LLC now owns 7,790 shares of the specialty chemicals company’s stock worth $931,000 after purchasing an additional 257 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Down 0.4 %

PPG opened at $122.46 on Thursday. PPG Industries, Inc. has a 52-week low of $113.00 and a 52-week high of $145.60. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $28.41 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.93 and a beta of 1.24. The firm’s 50 day moving average is $121.23 and its 200-day moving average is $124.59.

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 paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PPG. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Mizuho dropped their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Citigroup dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.