Great Lakes Advisors LLC Has $2.31 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Great Lakes Advisors LLC trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,306 shares of the specialty chemicals company’s stock after selling 602 shares during the period. Great Lakes Advisors LLC’s holdings in PPG Industries were worth $2,306,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PPG. GSA Capital Partners LLP lifted its position in shares of PPG Industries by 41.9% in the third quarter. GSA Capital Partners LLP now owns 5,309 shares of the specialty chemicals company’s stock valued at $703,000 after buying an additional 1,568 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of PPG Industries in the third quarter valued at approximately $211,000. Aptus Capital Advisors LLC acquired a new stake in shares of PPG Industries in the third quarter valued at approximately $326,000. Metis Global Partners LLC lifted its position in shares of PPG Industries by 19.7% in the third quarter. Metis Global Partners LLC now owns 13,396 shares of the specialty chemicals company’s stock valued at $1,774,000 after buying an additional 2,205 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its position in shares of PPG Industries by 13.0% in the third quarter. OneDigital Investment Advisors LLC now owns 5,895 shares of the specialty chemicals company’s stock valued at $781,000 after buying an additional 677 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

PPG Industries Trading Up 2.1 %

Shares of PPG opened at $113.65 on Friday. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61. The business’s fifty day moving average is $116.36 and its 200-day moving average is $122.30. 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 firm has a market cap of $25.80 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.19 and a beta of 1.22.

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 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%. Equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Wall Street Analyst Weigh In

PPG has been the subject of several research reports. The Goldman Sachs Group dropped their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company dropped their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Citigroup dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $138.15.

About PPG Industries

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.