PPG Industries, Inc. (NYSE:PPG) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 81,843 shares of the specialty chemicals company’s stock after selling 5,115 shares during the quarter. Manning & Napier Advisors LLC’s holdings in PPG Industries were worth $9,776,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Insight Folios Inc lifted its holdings in shares of PPG Industries by 3.8% in the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after acquiring an additional 81 shares during the last quarter. Alpha DNA Investment Management LLC lifted its stake in PPG Industries by 1.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock worth $1,105,000 after purchasing an additional 92 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after buying an additional 92 shares during the period. Groupama Asset Managment grew its stake in shares of PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after buying an additional 93 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada dropped their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.23.

PPG Industries Stock Down 0.4 %

PPG stock opened at $122.46 on Thursday. The company’s 50 day moving average is $121.23 and its two-hundred day moving average is $124.59. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.60. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market cap of $28.41 billion, a P/E ratio of 19.41, a PEG ratio of 1.93 and a beta of 1.24.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

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.