Kovitz Investment Group Partners LLC Trims Stock Position in PPG Industries, Inc. (NYSE:PPG)

Kovitz Investment Group Partners LLC trimmed its position in PPG Industries, Inc. (NYSE:PPGGet Rating) by 78.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,155 shares of the specialty chemicals company’s stock after selling 8,045 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in PPG Industries were worth $311,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of PPG Industries by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,161,488 shares of the specialty chemicals company’s stock worth $593,507,000 after purchasing an additional 116,462 shares during the period. Invesco Ltd. raised its holdings in shares of PPG Industries by 21.6% in the 3rd quarter. Invesco Ltd. now owns 1,591,113 shares of the specialty chemicals company’s stock worth $227,544,000 after purchasing an additional 283,110 shares during the period. Morgan Stanley raised its holdings in shares of PPG Industries by 11.2% in the 3rd quarter. Morgan Stanley now owns 1,398,247 shares of the specialty chemicals company’s stock worth $199,964,000 after purchasing an additional 141,047 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of PPG Industries by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,367,741 shares of the specialty chemicals company’s stock valued at $195,625,000 after buying an additional 26,613 shares in the last quarter. Finally, Parnassus Investments LLC grew its stake in shares of PPG Industries by 6.6% in the third quarter. Parnassus Investments LLC now owns 1,293,891 shares of the specialty chemicals company’s stock valued at $185,039,000 after buying an additional 80,251 shares in the last quarter. Institutional investors own 78.95% of the company’s stock.

PPG has been the subject of a number of recent research reports. Royal Bank of Canada lowered their target price on PPG Industries from $174.00 to $169.00 in a research note on Tuesday, January 25th. Robert W. Baird reiterated a “buy” rating and issued a $200.00 target price on shares of PPG Industries in a research note on Friday, February 11th. Wells Fargo & Company lowered their target price on PPG Industries from $170.00 to $140.00 and set an “equal weight” rating for the company in a research note on Monday. Barclays lowered their target price on PPG Industries from $185.00 to $175.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 25th. Finally, Jefferies Financial Group lowered their target price on PPG Industries from $170.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, March 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of “Buy” and an average price target of $174.42.

NYSE:PPG traded up $2.42 during trading hours on Tuesday, reaching $128.91. 7,976 shares of the stock were exchanged, compared to its average volume of 1,671,967. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 1.03. The firm has a 50 day simple moving average of $133.59 and a 200-day simple moving average of $151.40. PPG Industries, Inc. has a 52 week low of $111.32 and a 52 week high of $182.97. The stock has a market capitalization of $30.44 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.59 and a beta of 1.22.

PPG Industries (NYSE:PPGGet Rating) last released its earnings results on Thursday, January 20th. The specialty chemicals company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.05 billion. PPG Industries had a return on equity of 25.70% and a net margin of 8.56%. PPG Industries’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 EPS. As a group, analysts expect that PPG Industries, Inc. will post 7.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 11th. Investors of record on Friday, February 18th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Thursday, February 17th. PPG Industries’s dividend payout ratio (DPR) is 39.27%.

PPG Industries Company Profile (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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