Johnson Investment Counsel Inc. Has $6.36 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Johnson Investment Counsel Inc. decreased its stake in PPG Industries, Inc. (NYSE:PPG) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,206 shares of the specialty chemicals company’s stock after selling 6,463 shares during the period. Johnson Investment Counsel Inc.’s holdings in PPG Industries were worth $6,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PUREfi Wealth LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $279,000. PFW Advisors LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $868,000. Equity Investment Corp increased its stake in shares of PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after buying an additional 42,380 shares during the period. JGP Wealth Management LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after buying an additional 15,161 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Stock Down 0.7 %

Shares of NYSE:PPG opened at $114.71 on Tuesday. The business’s 50 day simple moving average is $116.74 and its two-hundred day simple moving average is $122.68. The firm has a market cap of $26.03 billion, a P/E ratio of 24.25, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61.

PPG Industries (NYSE:PPG) last posted its 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 net margin of 6.41% and a return on equity of 23.78%. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada cut their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company cut their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Citigroup cut their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft cut their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $138.15.

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.