Nemes Rush Group LLC Sells 291 Shares of PPG Industries, Inc. (NYSE:PPG)

Nemes Rush Group LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 29.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 704 shares of the specialty chemicals company’s stock after selling 291 shares during the period. Nemes Rush Group LLC’s holdings in PPG Industries were worth $84,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in PPG Industries during the fourth quarter worth $470,535,000. First Eagle Investment Management LLC grew its holdings in shares of PPG Industries by 138.9% in the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after purchasing an additional 1,858,895 shares during the last quarter. Wellington Management Group LLP increased its position in shares of PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after purchasing an additional 1,590,041 shares in the last quarter. Cooke & Bieler LP bought a new position in PPG Industries during the 4th quarter valued at about $107,850,000. Finally, Vanguard Group Inc. grew its stake in PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after buying an additional 756,937 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG opened at $110.03 on Thursday. The company has a fifty day moving average price of $114.61 and a two-hundred day moving average price of $120.85. The firm has a market capitalization of $24.97 billion, a PE ratio of 23.26, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 52 week low of $105.64 and a 52 week high of $143.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current 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 paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.47%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PPG shares. Deutsche Bank Aktiengesellschaft cut their target price 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. Royal Bank of Canada cut their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. UBS Group lowered their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. The Goldman Sachs Group reduced their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $138.15.

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The shares were 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 $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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.