PPG Industries, Inc. (NYSE:PPG) Position Reduced by Tanager Wealth Management LLP

Tanager Wealth Management LLP trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,315 shares of the specialty chemicals company’s stock after selling 452 shares during the quarter. Tanager Wealth Management LLP’s holdings in PPG Industries were worth $277,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new position in PPG Industries during the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. boosted its stake in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new position in PPG Industries during the 3rd quarter valued at $34,000. Hara Capital LLC bought a new position in PPG Industries during the 3rd quarter valued at $40,000. Finally, Albion Financial Group UT bought a new position in shares of PPG Industries in the 4th quarter worth about $38,000. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PPG shares. Wells Fargo & Company reduced their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $140.92.

PPG Industries Stock Down 0.7 %

PPG Industries stock opened at $111.25 on Wednesday. The stock has a market cap of $25.81 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.99 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $120.83 and its two-hundred day moving average price is $124.19. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. On average, analysts expect that PPG Industries, Inc. will post 7.9 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.44%. PPG Industries’s payout ratio is 57.51%.

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.