PPG Industries, Inc. (NYSE:PPG) Stake Lessened by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,307 shares of the specialty chemicals company’s stock after selling 351 shares during the quarter. Hartford Investment Management Co.’s holdings in PPG Industries were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Certuity LLC increased its holdings in shares of PPG Industries by 17.0% in the 4th quarter. Certuity LLC now owns 2,905 shares of the specialty chemicals company’s stock valued at $347,000 after purchasing an additional 422 shares during the period. Stonebridge Financial Group LLC purchased a new position in PPG Industries during the fourth quarter valued at approximately $158,000. Regents Gate Capital LLP acquired a new position in PPG Industries in the 4th quarter valued at approximately $2,897,000. Savant Capital LLC lifted its position in PPG Industries by 0.9% in the 4th quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock worth $1,407,000 after buying an additional 107 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of PPG Industries by 9.0% during the 4th 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 during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG opened at $118.05 on Friday. The company has a market capitalization of $27.39 billion, a PE ratio of 24.96, 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 current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The company’s fifty day moving average price is $119.33 and its 200 day moving average price is $123.58.

PPG Industries (NYSE:PPG) last posted 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, analysts expect that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.30%. PPG Industries’s payout ratio is 57.51%.

Analyst Ratings Changes

PPG has been the topic of a number of research reports. UBS Group dropped their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company dropped their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Mizuho reduced their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Barclays reduced their target price 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. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.