Manning & Napier Advisors LLC Has $9.78 Million Position in PPG Industries, Inc. (NYSE:PPG)

Manning & Napier Advisors LLC decreased its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,843 shares of the specialty chemicals company's stock after selling 5,115 shares during the quarter. Manning & Napier Advisors LLC's holdings in PPG Industries were worth $9,776,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. boosted its position 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 valued at $32,000 after buying an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in PPG Industries during the third quarter worth about $34,000. Hara Capital LLC bought a new position in shares of PPG Industries in the third quarter valued at approximately $40,000. Finally, Albion Financial Group UT acquired a new position in shares of PPG Industries in the 4th quarter worth approximately $38,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 0.4 %

Shares of NYSE:PPG traded up $0.53 during mid-day trading on Thursday, reaching $122.91. The stock had a trading volume of 930,688 shares, compared to its average volume of 1,979,391. The firm has a 50 day simple moving average of $121.25 and a two-hundred day simple moving average of $124.58. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.60. The firm has a market cap of $28.51 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup cut their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada decreased their price objective 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. KeyCorp downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. BMO Capital Markets reissued an "outperform" rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Mizuho reduced their price objective on PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.23.

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.