Strs Ohio Cuts Stake in PPG Industries, Inc. (NYSE:PPG)

Strs Ohio decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,019 shares of the specialty chemicals company’s stock after selling 1,657 shares during the period. Strs Ohio owned approximately 0.05% of PPG Industries worth $18,696,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new stake in PPG Industries during the 4th quarter valued at $26,000. SJS Investment Consulting Inc. boosted its position in PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 153 shares during the period. CVA Family Office LLC purchased a new stake in PPG Industries during the 4th quarter valued at $28,000. Quarry LP purchased a new stake in PPG Industries during the 2nd quarter valued at $29,000. Finally, Financial Connections Group Inc. purchased a new stake in PPG Industries during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PPG shares. Barclays cut shares of PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $163.00 to $149.00 in a research report on Tuesday, February 27th. KeyCorp dropped their target price on shares of PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Wolfe Research started coverage on shares of PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down from $173.00) on shares of PPG Industries in a research report on Thursday, March 7th. Finally, Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $150.00 to $163.00 in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $158.40.

PPG Industries Trading Down 1.1 %

PPG Industries stock opened at $133.52 on Wednesday. The stock has a market cap of $31.43 billion, a P/E ratio of 25.00, a PEG ratio of 1.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05. PPG Industries, Inc. has a 1 year low of $120.32 and a 1 year high of $152.89. The firm’s 50 day moving average price is $140.69 and its 200-day moving average price is $138.93.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.04. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 earnings per share. On average, equities analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Thursday, February 15th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 15th. PPG Industries’s payout ratio is 48.69%.

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.