Conning Inc. Has $213,000 Stock Position in PPG Industries, Inc. (NYSE:PPG)

Conning Inc. lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,783 shares of the specialty chemicals company’s stock after selling 168 shares during the quarter. Conning Inc.’s holdings in PPG Industries were worth $213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legend Financial Advisors Inc. acquired a new stake in PPG Industries in the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. grew its stake in shares of 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 acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries in the third quarter valued at approximately $34,000. Albion Financial Group UT bought a new stake in shares of PPG Industries in the fourth quarter worth $38,000. Finally, Hara Capital LLC acquired a new position in PPG Industries during the third quarter worth $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

NYSE:PPG opened at $114.87 on Monday. The company has a market cap of $26.65 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.97 and a beta of 1.23. The firm’s fifty day moving average price is $120.03 and its two-hundred day moving average price is $123.82. PPG Industries, Inc. has a one year low of $110.20 and a one year 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.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results 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%. Equities analysts expect that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Mizuho lowered their target price 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. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. The Goldman Sachs Group lowered 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. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.46.

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.