International Assets Investment Management LLC Lowers Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

International Assets Investment Management LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 76.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 101,775 shares of the specialty chemicals company’s stock after selling 325,059 shares during the quarter. PPG Industries comprises about 0.6% of International Assets Investment Management LLC’s investment portfolio, making the stock its 22nd largest holding. International Assets Investment Management LLC’s holdings in PPG Industries were worth $12,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vest Financial LLC lifted its position in PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after purchasing an additional 75,620 shares during the period. Equity Investment Corp boosted its stake in shares of PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after purchasing an additional 42,380 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of PPG Industries in the third quarter valued at approximately $604,000. Charles Schwab Investment Management Inc. lifted its stake in shares of PPG Industries by 0.6% during 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 buying an additional 15,161 shares during the period. Finally, Janus Henderson Group PLC boosted its position in PPG Industries by 10.0% during the third quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company’s stock worth $4,824,000 after acquiring an additional 3,300 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Mizuho dropped their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada decreased their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (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 ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $149.29.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.

PPG Industries Stock Performance

NYSE PPG traded down $0.72 on Wednesday, hitting $115.14. The stock had a trading volume of 203,376 shares, compared to its average volume of 1,959,445. The company’s 50-day moving average is $122.63 and its two-hundred day moving average is $125.29. The stock has a market cap of $26.71 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.90 and a beta of 1.24. 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 one year low of $113.49 and a one year high of $147.76.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 EPS. On average, analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a dividend of $0.68 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. PPG Industries’s dividend payout ratio is 43.11%.

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.