PPG Industries, Inc. (NYSE:PPG) Position Trimmed by Rodgers Brothers Inc.

Rodgers Brothers Inc. reduced its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 70,803 shares of the specialty chemicals company’s stock after selling 2,760 shares during the period. PPG Industries comprises approximately 1.1% of Rodgers Brothers Inc.’s portfolio, making the stock its 22nd largest holding. Rodgers Brothers Inc.’s holdings in PPG Industries were worth $8,457,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PPG. Legend Financial Advisors Inc. acquired a new stake in PPG Industries in the fourth quarter worth $27,000. Prudent Man Investment Management Inc. bought a new stake in PPG Industries in the 4th quarter valued at about $36,000. Albion Financial Group UT acquired a new position in PPG Industries during the 4th quarter valued at about $38,000. Crews Bank & Trust bought a new position in PPG Industries in the 4th quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $44,000. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PPG. Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price target on shares of 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $138.15.

PPG Industries Stock Performance

PPG stock opened at $107.32 on Monday. The firm has a 50 day simple moving average of $115.37 and a 200 day simple moving average of $121.17. PPG Industries, Inc. has a 52 week low of $105.64 and a 52 week high of $145.61. The stock has a market cap of $24.36 billion, a P/E ratio of 22.69, a P/E/G 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 (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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.