Victory Capital Management Inc. Sells 172,135 Shares of PPG Industries, Inc. (NYSE:PPG)

Victory Capital Management Inc. lowered its position in PPG Industries, Inc. (NYSE:PPGGet Rating) by 34.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 322,969 shares of the specialty chemicals company’s stock after selling 172,135 shares during the period. Victory Capital Management Inc. owned about 0.14% of PPG Industries worth $41,715,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rockbridge Investment Management LCC boosted its holdings in PPG Industries by 83.0% in the 4th quarter. Rockbridge Investment Management LCC now owns 183 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 83 shares during the period. Vectors Research Management LLC bought a new position in PPG Industries in the 4th quarter worth $34,000. EverSource Wealth Advisors LLC bought a new position in shares of PPG Industries during the 4th quarter valued at about $35,000. Allworth Financial LP boosted its holdings in shares of PPG Industries by 157.4% during the 1st quarter. Allworth Financial LP now owns 242 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 148 shares during the last quarter. Finally, Covestor Ltd bought a new position in shares of PPG Industries during the 4th quarter valued at about $47,000. Institutional investors own 79.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PPG. Wells Fargo & Company increased their price objective on shares of PPG Industries from $126.00 to $135.00 and gave the stock a “maintains” rating in a research report on Monday, July 25th. TheStreet downgraded shares of PPG Industries from a “b-” rating to a “c” rating in a research note on Monday, May 23rd. Barclays lowered their price objective on shares of PPG Industries from $175.00 to $150.00 in a research note on Monday, May 2nd. Robert W. Baird lowered their price objective on shares of PPG Industries from $200.00 to $180.00 in a research note on Monday, April 25th. Finally, UBS Group lowered their price objective on shares of PPG Industries to $160.00 in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $155.41.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $129.31 on Tuesday. The business has a 50 day simple moving average of $120.42 and a two-hundred day simple moving average of $130.62. PPG Industries, Inc. has a 12 month low of $107.06 and a 12 month high of $177.32. The stock has a market capitalization of $30.39 billion, a P/E ratio of 28.36, a PEG ratio of 2.65 and a beta of 1.17. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.50 and a quick ratio of 1.02.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 10th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from PPG Industries’s previous quarterly dividend of $0.59. PPG Industries’s dividend payout ratio is presently 51.75%.

PPG Industries Profile

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

See Also

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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