Venture Visionary Partners LLC Sells 634 Shares of PPG Industries, Inc. (NYSE:PPG)

Venture Visionary Partners LLC reduced its position in PPG Industries, Inc. (NYSE:PPG) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,178 shares of the specialty chemicals company’s stock after selling 634 shares during the quarter. Venture Visionary Partners LLC’s holdings in PPG Industries were worth $1,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Connections Group Inc. bought a new position in PPG Industries in the second quarter valued at approximately $25,000. Riverview Trust Co bought a new position in shares of PPG Industries in the 1st quarter valued at $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries during the 2nd quarter worth $37,000. LRI Investments LLC bought a new stake in shares of PPG Industries during the 1st quarter worth $53,000. Finally, DiNuzzo Private Wealth Inc. boosted its stake in PPG Industries by 103.6% in the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 203 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on PPG. Royal Bank of Canada lowered their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday. Citigroup cut their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday. Finally, KeyCorp reduced their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.14.

PPG Industries Price Performance

Shares of PPG opened at $128.83 on Tuesday. The business has a 50-day moving average of $127.41 and a 200-day moving average of $128.93. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a market capitalization of $30.21 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the company posted $2.07 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 8.24 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. PPG Industries’s payout ratio is 45.95%.

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.