Tanager Wealth Management LLP Trims Stock Position in PPG Industries, Inc. (NYSE:PPG)

Tanager Wealth Management LLP decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 16.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,315 shares of the specialty chemicals company’s stock after selling 452 shares during the period. Tanager Wealth Management LLP’s holdings in PPG Industries were worth $277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PPG. Park Avenue Securities LLC lifted its stake in shares of PPG Industries by 21.0% during the third quarter. Park Avenue Securities LLC now owns 2,129 shares of the specialty chemicals company’s stock valued at $282,000 after buying an additional 369 shares during the period. Czech National Bank lifted its stake in shares of PPG Industries by 6.0% during the third quarter. Czech National Bank now owns 47,525 shares of the specialty chemicals company’s stock valued at $6,295,000 after buying an additional 2,674 shares during the period. GAMMA Investing LLC lifted its stake in shares of PPG Industries by 9.4% during the third quarter. GAMMA Investing LLC now owns 5,623 shares of the specialty chemicals company’s stock valued at $745,000 after buying an additional 483 shares during the period. Daymark Wealth Partners LLC lifted its stake in shares of PPG Industries by 37.8% during the third quarter. Daymark Wealth Partners LLC now owns 51,861 shares of the specialty chemicals company’s stock valued at $6,870,000 after buying an additional 14,235 shares during the period. Finally, CWM LLC lifted its stake in shares of PPG Industries by 24.7% during the third quarter. CWM LLC now owns 11,886 shares of the specialty chemicals company’s stock valued at $1,574,000 after buying an additional 2,351 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group dropped their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada dropped their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday. Mizuho dropped their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday. Citigroup dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped 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. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.92.

PPG Industries Price Performance

PPG Industries stock opened at $111.25 on Wednesday. The firm has a market capitalization of $25.81 billion, a P/E ratio of 23.52, a PEG ratio of 1.99 and a beta of 1.23. The firm has a fifty day moving average of $120.83 and a 200-day moving average of $124.19. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60.

PPG Industries (NYSE:PPG) last announced its earnings results 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 net margin of 6.41% and a return on equity of 23.78%. As a group, analysts predict that PPG Industries, Inc. will post 7.9 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced 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 is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.44%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

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.