Nicholas Hoffman & Company LLC. Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

Nicholas Hoffman & Company LLC. cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,660 shares of the specialty chemicals company’s stock after selling 2,168 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in PPG Industries were worth $1,871,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. lifted its position in PPG Industries by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 290,312 shares of the specialty chemicals company’s stock valued at $34,678,000 after purchasing an additional 11,408 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of PPG Industries by 3.1% during the 4th quarter. J.W. Cole Advisors Inc. now owns 12,685 shares of the specialty chemicals company’s stock valued at $1,515,000 after buying an additional 377 shares during the period. Legacy Capital Wealth Partners LLC boosted its stake in shares of PPG Industries by 10.6% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 4,448 shares of the specialty chemicals company’s stock worth $531,000 after buying an additional 426 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of PPG Industries by 3.1% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 6,403 shares of the specialty chemicals company’s stock worth $765,000 after acquiring an additional 193 shares during the period. Finally, PUREfi Wealth LLC purchased a new stake in PPG Industries during the fourth quarter valued at $279,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 0.1 %

Shares of PPG opened at $117.75 on Monday. 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 firm has a 50-day moving average price of $119.02 and a 200 day moving average price of $123.44. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60. The firm has a market capitalization of $27.32 billion, a P/E ratio of 24.89, a P/E/G ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. Sell-side analysts forecast that PPG Industries, Inc. will post 7.96 EPS for the current 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. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PPG shares. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Mizuho decreased their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Citigroup cut their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, BMO Capital Markets reaffirmed 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. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries 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.