PPG Industries, Inc. (NYSE:PPG) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 38.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,726 shares of the specialty chemicals company’s stock after selling 1,671 shares during the quarter. Jennison Associates LLC’s holdings in PPG Industries were worth $326,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. PFW Advisors LLC purchased a new position in PPG Industries in the fourth quarter worth approximately $868,000. Equity Investment Corp lifted its position in shares of PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after buying an additional 42,380 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of PPG Industries during the 3rd quarter worth approximately $604,000. JGP Wealth Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth approximately $4,050,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE:PPG opened at $114.87 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The stock has a market cap of $26.65 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. The firm’s fifty day simple moving average is $120.22 and its 200-day simple moving average is $123.94.

PPG Industries (NYSE:PPG) last posted 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%. Analysts expect that PPG Industries, Inc. will post 7.9 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. The Goldman Sachs Group cut their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays cut their target price on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.46.

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.