Rodgers Brothers Inc. Trims Position in PPG Industries, Inc. (NYSE:PPG)

Rodgers Brothers Inc. lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,803 shares of the specialty chemicals company’s stock after selling 2,760 shares during the quarter. PPG Industries comprises about 1.1% of Rodgers Brothers Inc.’s holdings, making the stock its 22nd largest position. Rodgers Brothers Inc.’s holdings in PPG Industries were worth $8,457,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its stake in shares of PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment lifted its stake in shares of PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after acquiring an additional 93 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after acquiring an additional 95 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in shares of PPG Industries by 1.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock worth $990,000 after acquiring an additional 103 shares during the period. Finally, Sachetta LLC raised its holdings in PPG Industries by 18.4% during the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock worth $81,000 after purchasing an additional 105 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, UBS Group dropped 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $138.15.

Insider Activity at PPG Industries

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

PPG Industries Trading Down 1.0 %

Shares of PPG Industries stock opened at $107.32 on Monday. PPG Industries, Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $145.61. The business’s fifty day moving average is $115.37 and its two-hundred day moving average is $121.17. 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 cap of $24.36 billion, a PE ratio of 22.69, a P/E/G ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) 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%. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

PPG Industries 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.