PPG Industries, Inc. (NYSE:PPG) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 58.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,186 shares of the specialty chemicals company’s stock after selling 4,403 shares during the quarter. Confluence Wealth Services Inc.’s holdings in PPG Industries were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp increased its stake in shares of PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after acquiring an additional 491,774 shares during the period. Wellington Management Group LLP grew its holdings in PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after acquiring an additional 485,597 shares during the period. FMR LLC raised its position in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after acquiring an additional 354,740 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in PPG Industries by 189.6% in the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after acquiring an additional 279,455 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of PPG Industries by 65.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock worth $62,474,000 after purchasing an additional 206,853 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $112.61 on Thursday. The business has a fifty day simple moving average of $120.59 and a 200-day simple moving average of $124.07. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The company has a market cap of $26.13 billion, a P/E ratio of 23.81, a P/E/G ratio of 1.99 and a beta of 1.23. 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 (NYSE:PPG) last posted 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%. Equities research analysts forecast that PPG Industries, Inc. will post 7.9 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday. Barclays lowered their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.92.

PPG Industries 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.