First Horizon Advisors Inc. Trims Holdings in PPG Industries, Inc. (NYSE:PPG)

First Horizon Advisors Inc. trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,526 shares of the specialty chemicals company’s stock after selling 117 shares during the quarter. First Horizon Advisors Inc.’s holdings in PPG Industries were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. boosted its position in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries in the 3rd quarter worth approximately $34,000. Hara Capital LLC bought a new position in PPG Industries during the 3rd quarter valued at approximately $40,000. Finally, Albion Financial Group UT purchased a new position in PPG Industries during the fourth quarter valued at $38,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

PPG Industries Stock Up 0.7 %

PPG Industries stock opened at $114.29 on Wednesday. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The stock has a fifty day moving average of $117.96 and a 200 day moving average of $123.21. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market cap of $25.94 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.38%. PPG Industries’s payout ratio is presently 57.51%.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of recent research reports. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Citigroup decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada cut their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reduced 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. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.15.

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.