Penobscot Investment Management Company Inc. Has $251,000 Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Penobscot Investment Management Company Inc. reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 48.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,100 shares of the specialty chemicals company’s stock after selling 1,992 shares during the period. Penobscot Investment Management Company Inc.’s holdings in PPG Industries were worth $251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mutual Advisors LLC boosted its stake in PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment boosted its position in shares of PPG Industries by 1.2% during 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 during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in PPG Industries by 28.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 95 shares in the last quarter. Kingsview Wealth Management LLC raised its position in PPG Industries by 1.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 103 shares during the last quarter. Finally, Sachetta LLC lifted its stake in PPG Industries by 18.4% during the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock valued at $81,000 after acquiring an additional 105 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

PPG Industries Trading Up 0.1 %

Shares of PPG opened at $111.88 on Thursday. PPG Industries, Inc. has a fifty-two week low of $108.25 and a fifty-two week high of $145.61. The business has a 50-day moving average of $115.85 and a 200 day moving average of $121.45. The firm has a market cap of $25.39 billion, a P/E ratio of 23.65, a price-to-earnings-growth 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 issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.43%. PPG Industries’s payout ratio is 57.51%.

Analyst Ratings Changes

PPG has been the subject of several analyst reports. Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. UBS Group cut their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $138.15.

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.