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

International Assets Investment Management LLC lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 76.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,775 shares of the specialty chemicals company’s stock after selling 325,059 shares during the quarter. PPG Industries accounts for 0.6% of International Assets Investment Management LLC’s portfolio, making the stock its 22nd largest position. International Assets Investment Management LLC’s holdings in PPG Industries were worth $12,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC raised its position in PPG Industries by 8.4% in the second quarter. Private Advisor Group LLC now owns 11,342 shares of the specialty chemicals company’s stock worth $1,428,000 after acquiring an additional 879 shares during the period. Candriam S.C.A. raised its holdings in PPG Industries by 11.2% in the 2nd quarter. Candriam S.C.A. now owns 22,001 shares of the specialty chemicals company’s stock worth $2,770,000 after purchasing an additional 2,216 shares during the period. Acadian Asset Management LLC lifted its position in PPG Industries by 2,153.3% during the second quarter. Acadian Asset Management LLC now owns 6,512 shares of the specialty chemicals company’s stock valued at $818,000 after purchasing an additional 6,223 shares in the last quarter. Caprock Group LLC grew its holdings in PPG Industries by 81.3% during the second quarter. Caprock Group LLC now owns 8,471 shares of the specialty chemicals company’s stock valued at $1,066,000 after purchasing an additional 3,799 shares during the period. Finally, PFG Investments LLC increased its position in PPG Industries by 9.6% in the second quarter. PFG Investments LLC now owns 2,148 shares of the specialty chemicals company’s stock worth $270,000 after buying an additional 189 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the subject of several analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft decreased their price objective 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. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Mizuho cut their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

PPG Industries Stock Performance

PPG traded down $0.72 during trading on Wednesday, reaching $115.14. 203,376 shares of the company’s stock were exchanged, compared to its average volume of 1,959,445. The company’s fifty day simple moving average is $122.63 and its 200-day simple moving average is $125.29. The stock has a market capitalization of $26.71 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. PPG Industries, Inc. has a 1 year low of $113.49 and a 1 year high of $147.76. 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 posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 earnings per share. As a group, research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by insiders.

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.