Bryn Mawr Capital Management LLC Cuts Stake in PPG Industries, Inc. (NYSE:PPG)

Bryn Mawr Capital Management LLC reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 44.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,105 shares of the specialty chemicals company’s stock after selling 3,298 shares during the period. Bryn Mawr Capital Management LLC’s holdings in PPG Industries were worth $490,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC increased its stake in PPG Industries by 2.5% during the 4th quarter. Global Retirement Partners LLC now owns 5,040 shares of the specialty chemicals company’s stock worth $602,000 after buying an additional 124 shares during the period. Atlas Legacy Advisors LLC acquired a new position in PPG Industries during the 4th quarter worth approximately $242,000. New York State Common Retirement Fund grew its holdings in PPG Industries by 1.1% during the 4th quarter. New York State Common Retirement Fund now owns 180,040 shares of the specialty chemicals company’s stock worth $21,506,000 after acquiring an additional 1,969 shares in the last quarter. Mcdonald Partners LLC grew its holdings in PPG Industries by 26.1% during the 4th quarter. Mcdonald Partners LLC now owns 4,015 shares of the specialty chemicals company’s stock worth $480,000 after acquiring an additional 832 shares in the last quarter. Finally, BKM Wealth Management LLC grew its holdings in PPG Industries by 4.6% during the 4th quarter. BKM Wealth Management LLC now owns 4,732 shares of the specialty chemicals company’s stock worth $565,000 after acquiring an additional 210 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PPG. Barclays lowered their price target on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. The Goldman Sachs Group lowered their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. UBS Group lowered their price target 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. Wells Fargo & Company lowered their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Stock Down 2.6 %

Shares of NYSE:PPG opened at $114.88 on Friday. The stock has a market cap of $26.65 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.17 and a beta of 1.23. The firm has a fifty day moving average price of $118.29 and a 200 day moving average price of $123.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 1-year low of $110.20 and a 1-year high of $145.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s payout ratio is currently 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by insiders.

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.