12th Street Asset Management Company LLC Reduces Stake in PPG Industries, Inc. (NYSE:PPG)

12th Street Asset Management Company LLC reduced its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,979 shares of the specialty chemicals company's stock after selling 6,366 shares during the quarter. PPG Industries accounts for about 3.2% of 12th Street Asset Management Company LLC's holdings, making the stock its 17th largest holding. 12th Street Asset Management Company LLC owned approximately 0.07% of PPG Industries worth $19,468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PPG. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of PPG Industries in the 4th quarter valued at about $38,000. Crews Bank & Trust bought a new stake in shares of PPG Industries in the 4th quarter valued at about $42,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of PPG Industries in the 4th quarter valued at about $44,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho lowered their price target on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. The Goldman Sachs Group lowered their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Nine equities research 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, the stock presently has a consensus rating of "Hold" and an average target price of $138.15.

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Insider Buying and Selling at PPG Industries

In other 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 directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.33% of the company's stock.

PPG Industries Stock Down 0.3 %

Shares of PPG Industries stock traded down $0.33 during midday trading on Tuesday, hitting $113.51. The company had a trading volume of 1,368,473 shares, compared to its average volume of 1,616,618. 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 stock has a market capitalization of $25.76 billion, a P/E ratio of 24.00, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a 50 day moving average of $116.33 and a 200 day moving average of $122.16. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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 analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.40%. PPG Industries's dividend payout ratio is 57.51%.

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.