Peninsula Asset Management Inc. Trims Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Peninsula Asset Management Inc. lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,960 shares of the specialty chemicals company’s stock after selling 455 shares during the period. PPG Industries comprises approximately 1.3% of Peninsula Asset Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Peninsula Asset Management Inc.’s holdings in PPG Industries were worth $2,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPG. State Street Corp lifted its position in shares of PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after buying an additional 491,774 shares during the last quarter. Wellington Management Group LLP boosted its holdings in PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after purchasing an additional 485,597 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of PPG Industries by 138.9% in the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock valued at $381,876,000 after purchasing an additional 1,858,895 shares during the period. Franklin Resources Inc. increased its position in shares of PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock valued at $403,049,000 after buying an additional 170,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PPG Industries by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company’s stock worth $316,349,000 after purchasing an additional 76,626 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Insider Activity

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly 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 legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Price Performance

Shares of NYSE PPG opened at $113.65 on Friday. The business’s fifty day moving average price is $116.36 and its two-hundred day moving average price is $122.33. The firm has a market capitalization of $25.80 billion, a PE ratio of 24.03, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 1-year low of $109.15 and a 1-year high of $145.61.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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%. On average, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Mizuho cut their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.15.

PPG Industries Company 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.