D.B. Root & Company LLC Decreases Position in PPG Industries, Inc. (NYSE:PPG)

D.B. Root & Company LLC trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,286 shares of the specialty chemicals company’s stock after selling 555 shares during the quarter. D.B. Root & Company LLC’s holdings in PPG Industries were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries during the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. grew its position in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in PPG Industries during the 3rd quarter valued at approximately $34,000. Albion Financial Group UT purchased a new position in shares of PPG Industries in the fourth quarter worth $38,000. Finally, Hara Capital LLC acquired a new stake in shares of PPG Industries during the third quarter worth $40,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Royal Bank of Canada dropped their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Citigroup dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.23.

PPG Industries Price Performance

NYSE:PPG opened at $122.94 on Thursday. 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, Inc. has a 52 week low of $113.00 and a 52 week high of $145.60. The stock’s 50-day moving average price is $121.17 and its 200-day moving average price is $124.74. The stock has a market capitalization of $28.52 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

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.