US Asset Management LLC Decreases Holdings in PPG Industries, Inc. (NYSE:PPG)

US Asset Management LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 6.0% during the fourth quarter, HoldingsChannel reports. The fund owned 2,555 shares of the specialty chemicals company’s stock after selling 164 shares during the period. US Asset Management LLC’s holdings in PPG Industries were worth $305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mutual Advisors LLC raised its position in shares of PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after purchasing an additional 92 shares during the last quarter. LRI Investments LLC increased its position in PPG Industries by 25.3% during the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock worth $54,000 after buying an additional 92 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 95 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock worth $990,000 after acquiring an additional 103 shares during the last quarter. Finally, Sachetta LLC increased its position in PPG Industries by 18.4% during the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock worth $81,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Down 0.1%

Shares of NYSE:PPG opened at $111.15 on Friday. The stock has a 50-day simple moving average of $106.44 and a 200-day simple moving average of $114.86. The stock has a market capitalization of $25.23 billion, a P/E ratio of 23.50, a PEG ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. 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 released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 earnings per share. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, May 12th. PPG Industries’s dividend payout ratio (DPR) is presently 58.24%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America restated a “neutral” rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Fermium Researc raised shares of PPG Industries to a “strong-buy” rating in a research note on Thursday, May 1st. Wells Fargo & Company lifted their target price on shares of PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Finally, Wall Street Zen cut PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $128.42.

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.