Taylor Financial Group Inc. Trims Position in PPG Industries, Inc. (NYSE:PPG)

Taylor Financial Group Inc. decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,982 shares of the specialty chemicals company’s stock after selling 96 shares during the period. Taylor Financial Group Inc.’s holdings in PPG Industries were worth $953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PUREfi Wealth LLC purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $279,000. PFW Advisors LLC purchased a new position in PPG Industries during the fourth quarter worth approximately $868,000. Equity Investment Corp raised its stake in PPG Industries by 7.0% during the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after purchasing an additional 42,380 shares during the period. 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. raised 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 purchasing an additional 15,161 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG opened at $113.85 on Tuesday. The company has a fifty day simple moving average of $116.33 and a 200 day simple moving average of $122.16. The firm has a market cap of $25.84 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.39%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group cut their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group cut their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.