Alliancebernstein L.P. Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Alliancebernstein L.P. cut its stake in PPG Industries, Inc. (NYSE:PPG) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 457,580 shares of the specialty chemicals company’s stock after selling 40,389 shares during the period. Alliancebernstein L.P.’s holdings in PPG Industries were worth $54,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PPG. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth $27,000. Prudent Man Investment Management Inc. purchased a new position in PPG Industries in the 4th quarter worth $36,000. Albion Financial Group UT acquired a new stake in PPG Industries during the 4th quarter worth about $38,000. Crews Bank & Trust purchased a new stake in PPG Industries during the 4th quarter valued at about $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PPG shares. Wells Fargo & Company decreased their target price on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. The Goldman Sachs Group lowered their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $137.77.

PPG Industries Price Performance

PPG Industries stock opened at $98.98 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company’s fifty day moving average price is $113.74 and its 200 day moving average price is $120.54. The stock has a market capitalization of $22.47 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 1 year low of $97.49 and a 1 year high of $142.30.

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 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%. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given 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 2.75%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.