Cambiar Investors LLC Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Cambiar Investors LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 404,608 shares of the specialty chemicals company's stock after selling 30,942 shares during the period. PPG Industries accounts for approximately 1.9% of Cambiar Investors LLC's investment portfolio, making the stock its 20th largest holding. Cambiar Investors LLC owned about 0.17% of PPG Industries worth $48,330,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new stake in PPG Industries in the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. boosted its holdings in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in PPG Industries in the third quarter worth about $34,000. Albion Financial Group UT acquired a new stake in PPG Industries in the fourth quarter worth about $38,000. Finally, Hara Capital LLC acquired a new stake in PPG Industries in the third quarter worth about $40,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PPG. Barclays lowered their price target on PPG Industries from $144.00 to $125.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. 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 report on Thursday, February 6th. Royal Bank of Canada decreased their target price on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a report on Tuesday, February 4th. Citigroup decreased their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. Finally, Mizuho decreased their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PPG Industries presently has an average rating of "Moderate Buy" and a consensus target price of $138.15.

PPG Industries Stock Performance

NYSE:PPG traded down $0.17 during trading hours on Friday, reaching $117.75. The company had a trading volume of 1,677,204 shares, compared to its average volume of 2,139,767. PPG Industries, Inc. has a 1-year low of $110.20 and a 1-year high of $145.60. The firm has a market cap of $27.32 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The business's 50 day moving average price is $119.18 and its 200-day moving average price is $123.54. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG - Get Free Report) 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 analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Research analysts forecast that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. 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 2.31%. 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.