300 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by Prudent Man Investment Management Inc.

Prudent Man Investment Management Inc. acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 300 shares of the specialty chemicals company’s stock, valued at approximately $36,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after purchasing an additional 1,590,041 shares during the last quarter. Allianz SE bought a new stake in shares of PPG Industries during the fourth quarter valued at approximately $1,513,000. Beutel Goodman & Co Ltd. boosted its position in shares of PPG Industries by 0.3% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,338,384 shares of the specialty chemicals company’s stock worth $398,770,000 after buying an additional 10,116 shares during the period. Allstate Corp bought a new position in PPG Industries in the 4th quarter worth approximately $870,000. Finally, DnB Asset Management AS increased its position in PPG Industries by 1.9% in the 4th quarter. DnB Asset Management AS now owns 50,726 shares of the specialty chemicals company’s stock valued at $6,059,000 after acquiring an additional 946 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PPG. Mizuho reduced their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, UBS Group cut their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $138.15.

Insider Activity

In related 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 transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

PPG Industries Trading Down 1.0 %

NYSE:PPG opened at $107.32 on Monday. The stock has a fifty day simple moving average of $115.37 and a 200 day simple moving average of $121.17. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 1-year low of $105.64 and a 1-year high of $145.61. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

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

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

PPG Industries 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.