Adams Natural Resources Fund Inc. Cuts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Adams Natural Resources Fund Inc. trimmed its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 63.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,100 shares of the specialty chemicals company's stock after selling 31,000 shares during the period. Adams Natural Resources Fund Inc.'s holdings in PPG Industries were worth $2,162,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PUREfi Wealth LLC bought a new position in shares of PPG Industries during the 4th quarter worth approximately $279,000. PFW Advisors LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $868,000. JGP Wealth Management LLC bought a new position in PPG Industries during the fourth quarter worth $4,050,000. Charles Schwab Investment Management Inc. grew its stake in PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company's stock valued at $340,654,000 after buying an additional 15,161 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in shares of PPG Industries during the fourth quarter worth approximately $2,944,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays reissued an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. KeyCorp downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Finally, Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $138.15.

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PPG Industries Stock Performance

Shares of PPG stock traded down $1.43 on Tuesday, reaching $111.55. The stock had a trading volume of 1,818,942 shares, compared to its average volume of 1,620,688. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. The stock has a market cap of $25.32 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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 has a 50 day simple moving average of $115.96 and a 200 day simple moving average of $121.52.

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

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.44%. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

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.