Stephens Inc. AR Has $1.46 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Stephens Inc. AR cut its stake in PPG Industries, Inc. (NYSE:PPG – Get Rating) by 21.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,576 shares of the specialty chemicals company’s stock after selling 3,236 shares during the quarter. Stephens Inc. AR’s holdings in PPG Industries were worth $1,456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Daymark Wealth Partners LLC bought a new position in shares of PPG Industries in the 4th quarter valued at $1,638,000. Whittier Trust Co. increased its stake in shares of PPG Industries by 5.2% in the 4th quarter. Whittier Trust Co. now owns 13,638 shares of the specialty chemicals company’s stock valued at $1,715,000 after purchasing an additional 677 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of PPG Industries by 6.2% in the 4th quarter. Pinnacle Associates Ltd. now owns 2,342 shares of the specialty chemicals company’s stock valued at $312,000 after purchasing an additional 136 shares during the last quarter. Tarbox Family Office Inc. increased its stake in shares of PPG Industries by 2.1% in the 4th quarter. Tarbox Family Office Inc. now owns 26,514 shares of the specialty chemicals company’s stock valued at $3,334,000 after purchasing an additional 555 shares during the last quarter. Finally, Fragasso Group Inc. increased its stake in shares of PPG Industries by 2.8% in the 4th quarter. Fragasso Group Inc. now owns 12,422 shares of the specialty chemicals company’s stock valued at $1,562,000 after purchasing an additional 336 shares during the last quarter. Institutional investors own 80.04% of the company’s stock.

PPG Industries Trading Down 3.2 %

Shares of NYSE:PPG traded down $4.06 during midday trading on Friday, reaching $122.49. The company’s stock had a trading volume of 2,761,427 shares, compared to its average volume of 1,432,966. The firm has a market capitalization of $28.83 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 2.75 and a beta of 1.17. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.04 and a current ratio of 1.52. The firm has a 50 day moving average price of $129.68 and a two-hundred day moving average price of $124.80. PPG Industries, Inc. has a fifty-two week low of $107.06 and a fifty-two week high of $138.10.

PPG Industries (NYSE:PPG – Get Rating) last announced its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a return on equity of 22.55% and a net margin of 5.81%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. As a group, analysts forecast that PPG Industries, Inc. will post 6.52 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 17th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Thursday, February 16th. PPG Industries’s dividend payout ratio is 57.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Argus lifted their price target on PPG Industries from $144.00 to $149.00 in a research note on Monday, January 23rd. JPMorgan Chase & Co. boosted their price objective on PPG Industries from $116.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. BNP Paribas lowered PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a research report on Monday, January 23rd. Mizuho restated a “buy” rating and set a $142.00 price objective on shares of PPG Industries in a research report on Tuesday, February 7th. Finally, Wells Fargo & Company boosted their price objective on PPG Industries from $115.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, January 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $135.84.

Insider Activity

In related news, Chairman Michael H. Mcgarry sold 61,867 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the transaction, the chairman now directly owns 183,645 shares of the company’s stock, valued at approximately $23,866,504.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Anne M. Foulkes sold 21,757 shares of the company’s stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the transaction, the vice president now directly owns 10,577 shares of the company’s stock, valued at approximately $1,357,346.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Michael H. Mcgarry sold 61,867 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total value of $8,040,235.32. Following the transaction, the chairman now directly owns 183,645 shares in the company, valued at $23,866,504.20. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

PPG Industries Company Profile

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.