International Assets Investment Management LLC Lowers Holdings in PPG Industries, Inc. (NYSE:PPG)

International Assets Investment Management LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 76.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 101,775 shares of the specialty chemicals company's stock after selling 325,059 shares during the quarter. PPG Industries accounts for about 0.6% of International Assets Investment Management LLC's investment portfolio, making the stock its 22nd biggest position. International Assets Investment Management LLC's holdings in PPG Industries were worth $12,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of 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 purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in PPG Industries in the 3rd quarter worth about $34,000. Hara Capital LLC bought a new stake in PPG Industries during the 3rd quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in PPG Industries in the 3rd quarter valued at about $46,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Down 0.2 %

NYSE:PPG traded down $0.20 during mid-day trading on Wednesday, hitting $115.66. 1,394,514 shares of the company's stock traded hands, compared to its average volume of 2,220,363. The company has a fifty day moving average of $122.63 and a 200 day moving average of $125.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a twelve month low of $113.49 and a twelve month high of $147.76. The company has a market capitalization of $26.83 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. On average, analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Tuesday, November 12th. PPG Industries's payout ratio is 43.11%.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction that occurred on 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 owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PPG has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target 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. BMO Capital Markets restated an "outperform" rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Royal Bank of Canada dropped their target price on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $149.29.

PPG Industries 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.