Adams Natural Resources Fund Inc. Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

Adams Natural Resources Fund Inc. decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 63.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,100 shares of the specialty chemicals company’s stock after selling 31,000 shares during the period. Adams Natural Resources Fund Inc.’s holdings in PPG Industries were worth $2,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $46,000. HUB Investment Partners LLC purchased a new position in PPG Industries during the 4th quarter valued at $395,000. iA Global Asset Management Inc. raised its holdings in PPG Industries by 16.3% in the 4th quarter. iA Global Asset Management Inc. now owns 12,947 shares of the specialty chemicals company’s stock worth $1,547,000 after purchasing an additional 1,810 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of PPG Industries by 3.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 100,283 shares of the specialty chemicals company’s stock worth $11,979,000 after purchasing an additional 2,988 shares during the period. Finally, Generali Investments Management Co LLC purchased a new stake in shares of PPG Industries in the 4th quarter worth about $500,000. Institutional investors own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now 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 hyperlink. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of several research analyst reports. Royal Bank of Canada reduced their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company lowered their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group reduced their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $138.15.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $110.75 on Friday. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. The firm’s 50-day moving average is $116.09 and its 200 day moving average is $121.78. The stock has a market cap of $25.14 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last issued its 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 return on equity of 23.78% and a net margin of 6.41%. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.46%. PPG Industries’s dividend payout ratio 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.