State of Alaska Department of Revenue Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

State of Alaska Department of Revenue trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,457 shares of the specialty chemicals company’s stock after selling 3,234 shares during the quarter. State of Alaska Department of Revenue’s holdings in PPG Industries were worth $3,160,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PPG. Insight Folios Inc lifted its position in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after acquiring an additional 81 shares during the last quarter. Alpha DNA Investment Management LLC lifted its position in PPG Industries by 1.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock worth $1,105,000 after acquiring an additional 92 shares during the period. Mutual Advisors LLC grew its stake in shares of PPG Industries by 3.6% in the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after purchasing an additional 93 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of PPG Industries by 28.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 95 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PPG has been the topic of a number of analyst reports. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Mizuho cut their price target 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 objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group cut their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada decreased their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average price target of $140.46.

PPG Industries Price Performance

PPG Industries stock opened at $114.87 on Monday. The firm has a market capitalization of $26.65 billion, a PE ratio of 24.29, a P/E/G ratio of 1.97 and a beta of 1.23. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The firm’s 50-day simple moving average is $120.03 and its 200 day simple moving average is $123.82. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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, equities research analysts predict that PPG Industries, Inc. will post 7.96 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 issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 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.