Brandywine Global Investment Management LLC Reduces Position in PPG Industries, Inc. (NYSE:PPG)

Brandywine Global Investment Management LLC trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 7.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,468 shares of the specialty chemicals company’s stock after selling 5,110 shares during the period. Brandywine Global Investment Management LLC’s holdings in PPG Industries were worth $7,462,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. purchased a new stake in PPG Industries during the 4th quarter worth about $27,000. Albion Financial Group UT acquired a new stake in shares of PPG Industries during the 4th quarter worth about $38,000. Crews Bank & Trust purchased a new stake in PPG Industries during the fourth quarter worth approximately $42,000. Sugar Maple Asset Management LLC acquired a new position in PPG Industries in the fourth quarter valued at approximately $44,000. Finally, Millstone Evans Group LLC acquired a new stake in PPG Industries during the fourth quarter worth approximately $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Stock Performance

Shares of PPG opened at $109.45 on Tuesday. The stock has a market capitalization of $24.84 billion, a P/E ratio of 23.14, a P/E/G ratio of 2.19 and a beta of 1.22. 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, Inc. has a 1 year low of $105.64 and a 1 year high of $145.61. The company’s fifty day moving average is $115.16 and its two-hundred day moving average is $121.05.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. PPG Industries’s dividend payout ratio is currently 57.51%.

Wall Street Analyst Weigh In

PPG has been the subject of several research analyst reports. Citigroup lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. UBS Group decreased their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company dropped their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus price target of $138.15.

PPG Industries Company 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.