Calamos Advisors LLC Sells 3,441 Shares of PPG Industries, Inc. (NYSE:PPG)

Calamos Advisors LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 140,040 shares of the specialty chemicals company’s stock after selling 3,441 shares during the quarter. Calamos Advisors LLC’s holdings in PPG Industries were worth $16,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PPG. PFW Advisors LLC bought a new position in PPG Industries during the fourth quarter worth about $868,000. Equity Investment Corp boosted its stake in PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after acquiring an additional 42,380 shares during the last quarter. Ritholtz Wealth Management acquired a new position in PPG Industries during the third quarter valued at approximately $604,000. JGP Wealth Management LLC bought a new stake in PPG Industries in the fourth quarter valued at approximately $4,050,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

Shares of NYSE PPG opened at $111.99 on Tuesday. The stock has a market capitalization of $25.98 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.99 and a beta of 1.23. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The business has a 50-day moving average of $121.11 and a 200-day moving average of $124.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.9 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders 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 yield of 2.43%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analyst Ratings Changes

A number of analysts recently commented on PPG shares. Barclays lowered 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 report on Monday. Wells Fargo & Company decreased their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday. Mizuho dropped their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $142.25.

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.