Groupama Asset Managment Trims Stake in PPG Industries, Inc. (NYSE:PPG)

Groupama Asset Managment trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 14.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,665 shares of the specialty chemicals company’s stock after selling 1,085 shares during the quarter. Groupama Asset Managment’s holdings in PPG Industries were worth $794,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the fourth quarter worth about $27,000. Prudent Man Investment Management Inc. purchased a new position in PPG Industries during the fourth quarter worth approximately $36,000. Albion Financial Group UT acquired a new stake in PPG Industries in the fourth quarter valued at approximately $38,000. Crews Bank & Trust purchased a new stake in shares of PPG Industries in the fourth quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at approximately $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE:PPG opened at $110.03 on Thursday. The company’s 50-day moving average is $114.61 and its two-hundred day moving average is $120.85. PPG Industries, Inc. has a 1-year low of $105.64 and a 1-year high of $143.98. 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 firm has a market capitalization of $24.97 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays reiterated 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 reduced their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, Mizuho lowered their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, PPG Industries currently has an average rating of “Hold” and a consensus target price of $138.15.

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.