Bryn Mawr Capital Management LLC Trims Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Bryn Mawr Capital Management LLC lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 8.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,793 shares of the specialty chemicals company’s stock after selling 610 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in PPG Industries were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PPG. Legend Financial Advisors Inc. bought a new position in PPG Industries during the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new position in PPG Industries during the 3rd quarter worth approximately $34,000. Albion Financial Group UT bought a new position in PPG Industries during the 4th quarter worth approximately $38,000. Finally, Hara Capital LLC bought a new position in PPG Industries during the 3rd quarter worth approximately $40,000. Institutional investors own 81.86% of the company’s stock.

Insider Activity

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 transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on PPG. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Citigroup dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Mizuho dropped their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Stock Up 0.6 %

PPG opened at $115.07 on Thursday. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market cap of $26.11 billion, a P/E ratio of 24.33, a P/E/G ratio of 2.19 and a beta of 1.23. The stock’s 50 day moving average price is $117.83 and its 200 day moving average price is $123.15.

PPG Industries (NYSE:PPG) last posted 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 net margin of 6.41% and a return on equity of 23.78%. As a group, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

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.