State of Alaska Department of Revenue Sells 3,234 Shares of PPG Industries, Inc. (NYSE:PPG)

State of Alaska Department of Revenue lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 10.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,457 shares of the specialty chemicals company’s stock after selling 3,234 shares during the period. State of Alaska Department of Revenue’s holdings in PPG Industries were worth $3,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its holdings in PPG Industries by 465.1% during the third 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 during the period. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $34,000. Albion Financial Group UT acquired a new position in PPG Industries during the fourth quarter worth $38,000. Finally, Hara Capital LLC purchased a new position in PPG Industries during the third quarter valued at $40,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PPG has been the topic of a number of research reports. Citigroup decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Wells Fargo & Company reduced their target price 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Mizuho cut their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.46.

PPG Industries Stock Down 0.9 %

Shares of NYSE PPG opened at $114.87 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $120.03 and its two-hundred day moving average is $123.82. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The firm has a market cap of $26.65 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results 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 predict that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is 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.