PPG Industries, Inc. (NYSE:PPG) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 7.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 404,608 shares of the specialty chemicals company’s stock after selling 30,942 shares during the quarter. PPG Industries makes up approximately 1.9% of Cambiar Investors LLC’s portfolio, making the stock its 20th biggest holding. Cambiar Investors LLC’s holdings in PPG Industries were worth $48,330,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Regents Gate Capital LLP purchased a new position in PPG Industries in the fourth quarter valued at about $2,897,000. Savant Capital LLC increased its holdings in PPG Industries by 0.9% in the fourth quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock valued at $1,407,000 after buying an additional 107 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in PPG Industries by 9.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 13,432 shares of the specialty chemicals company’s stock valued at $1,604,000 after buying an additional 1,107 shares in the last quarter. Birch Hill Investment Advisors LLC increased its holdings in PPG Industries by 3.6% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 3,433 shares of the specialty chemicals company’s stock valued at $410,000 after buying an additional 118 shares in the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in PPG Industries in the fourth quarter valued at about $949,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPG has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. UBS Group dropped their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Barclays dropped their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.46.

PPG Industries Stock Down 0.6 %

Shares of NYSE PPG opened at $114.13 on Tuesday. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. The firm’s 50 day moving average price is $120.03 and its 200 day moving average price is $123.81. The firm has a market cap of $26.48 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. 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 announced its 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 return on equity of 23.78% and a net margin of 6.41%. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Dividend Announcement

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