Ferguson Wellman Capital Management Inc. Has $2.02 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Ferguson Wellman Capital Management Inc. decreased its position in PPG Industries, Inc. (NYSE:PPG) by 92.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,875 shares of the specialty chemicals company’s stock after selling 192,843 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in PPG Industries were worth $2,016,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PFW Advisors LLC acquired a new position in PPG Industries in the fourth quarter valued at $868,000. Equity Investment Corp lifted its holdings in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after buying an additional 42,380 shares during the period. Ritholtz Wealth Management acquired a new position in PPG Industries in the third quarter valued at $604,000. JGP Wealth Management LLC acquired a new position in PPG Industries in the fourth quarter valued at $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its stake in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 0.6 %

Shares of PPG stock opened at $114.13 on Tuesday. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a 50-day simple moving average of $120.03 and a two-hundred day simple moving average of $123.81. The company has a market capitalization of $26.48 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Research analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Citigroup decreased 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 note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft decreased 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 note on Thursday, December 19th. Barclays decreased their price target 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. Finally, Royal Bank of Canada decreased 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 note on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $140.46.

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.