Xponance Inc. Cuts Holdings in PPG Industries, Inc. (NYSE:PPG)

Xponance Inc. reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,245 shares of the specialty chemicals company’s stock after selling 120 shares during the quarter. Xponance Inc.’s holdings in PPG Industries were worth $3,852,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries during the fourth quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. raised its stake in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the period. Albion Financial Group UT purchased a new position in shares of PPG Industries during the 4th quarter valued at approximately $38,000. Crews Bank & Trust acquired a new stake in PPG Industries in the 4th quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in PPG Industries in the 4th quarter worth $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG Industries stock opened at $111.29 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market cap of $25.26 billion, a P/E ratio of 23.53, a PEG ratio of 2.19 and a beta of 1.22. The company has a 50-day moving average price of $116.15 and a 200 day moving average price of $121.91. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61.

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

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated 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 owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on PPG shares. Mizuho dropped their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Citigroup lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. UBS Group lowered their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $138.15.

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.