IFP Advisors Inc Sells 4,481 Shares of PPG Industries, Inc. (NYSE:PPG)

IFP Advisors Inc decreased its holdings in PPG Industries, Inc. (NYSE:PPG – Get Rating) by 80.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,070 shares of the specialty chemicals company’s stock after selling 4,481 shares during the quarter. IFP Advisors Inc’s holdings in PPG Industries were worth $114,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. FourThought Financial Partners LLC bought a new position in PPG Industries in the 4th quarter valued at about $1,163,000. Handelsbanken Fonder AB lifted its position in PPG Industries by 12.0% in the 4th quarter. Handelsbanken Fonder AB now owns 104,720 shares of the specialty chemicals company’s stock valued at $13,167,000 after acquiring an additional 11,229 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in PPG Industries by 12.1% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 235,453 shares of the specialty chemicals company’s stock valued at $29,865,000 after acquiring an additional 25,470 shares in the last quarter. Kesler Norman & Wride LLC lifted its position in PPG Industries by 67.7% in the 4th quarter. Kesler Norman & Wride LLC now owns 14,168 shares of the specialty chemicals company’s stock valued at $1,781,000 after acquiring an additional 5,720 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of PPG Industries by 12.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 30,476 shares of the specialty chemicals company’s stock worth $3,832,000 after buying an additional 3,469 shares in the last quarter. Institutional investors own 80.04% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $130.00 to $156.00 in a research report on Monday, April 24th. StockNews.com initiated coverage on shares of PPG Industries in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Barclays lifted their target price on shares of PPG Industries from $142.00 to $150.00 in a research report on Monday, April 24th. Citigroup dropped their target price on shares of PPG Industries from $139.00 to $138.00 in a research report on Sunday, January 22nd. Finally, Wells Fargo & Company lifted their target price on shares of PPG Industries from $124.00 to $143.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, PPG Industries has an average rating of “Hold” and an average price target of $147.74.

PPG Industries Stock Up 0.6 %

PPG Industries stock opened at $138.10 on Friday. PPG Industries, Inc. has a 1-year low of $107.06 and a 1-year high of $145.51. The firm has a market capitalization of $32.51 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 1.18 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 1.15 and a debt-to-equity ratio of 0.98. The firm has a 50 day simple moving average of $134.37 and a 200 day simple moving average of $130.11.

PPG Industries (NYSE:PPG – Get Rating) last released its quarterly earnings results on Friday, April 21st. The specialty chemicals company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.27. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.39 billion. PPG Industries had a net margin of 7.18% and a return on equity of 23.35%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. On average, analysts predict that PPG Industries, Inc. will post 7.25 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Wednesday, May 10th will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, May 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.80%. PPG Industries’s dividend payout ratio (DPR) is currently 46.27%.

About PPG Industries

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.