PPG Industries, Inc. (NYSE:PPG) Shares Sold by Guardian Asset Advisors LLC

Guardian Asset Advisors LLC lowered its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,505 shares of the specialty chemicals company’s stock after selling 97 shares during the period. Guardian Asset Advisors LLC’s holdings in PPG Industries were worth $299,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. lifted its position in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in PPG Industries during the 3rd quarter valued at $34,000. Albion Financial Group UT acquired a new position in shares of PPG Industries during the 4th quarter valued at $38,000. Finally, Hara Capital LLC bought a new stake in shares of PPG Industries in the 3rd quarter worth $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PPG. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their target price for the company from $145.00 to $115.00 in a research note on Wednesday. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Mizuho dropped their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $118.05 on Friday. The business has a fifty day simple moving average of $119.33 and a 200 day simple moving average of $123.58. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. The firm has a market cap of $27.39 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last announced its quarterly 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%. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.30%. PPG Industries’s dividend payout ratio is currently 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.