Peninsula Asset Management Inc. Has $2.50 Million Position in PPG Industries, Inc. (NYSE:PPG)

Peninsula Asset Management Inc. lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,960 shares of the specialty chemicals company’s stock after selling 455 shares during the period. PPG Industries comprises 1.3% of Peninsula Asset Management Inc.’s investment portfolio, making the stock its 27th biggest position. Peninsula Asset Management Inc.’s holdings in PPG Industries were worth $2,504,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in PPG Industries in the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Albion Financial Group UT acquired a new position in PPG Industries in the fourth quarter valued at about $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries in the 4th quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PPG. Royal Bank of Canada dropped their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. UBS Group decreased their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target 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. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $138.15.

PPG Industries Price Performance

Shares of PPG stock opened at $113.65 on Friday. The company’s 50-day simple moving average is $116.36 and its two-hundred day simple moving average is $122.33. 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 one year low of $109.15 and a one year high of $145.61. The company has a market capitalization of $25.80 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.19 and a beta of 1.22.

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 return on equity of 23.78% and a net margin of 6.41%. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.