Amalgamated Bank Reduces Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Amalgamated Bank reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,682 shares of the specialty chemicals company’s stock after selling 1,183 shares during the period. Amalgamated Bank’s holdings in PPG Industries were worth $5,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares during the last quarter. Wellington Management Group LLP increased its stake in PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after purchasing an additional 485,597 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after buying an additional 170,339 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PPG Industries by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock valued at $248,650,000 after buying an additional 36,047 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $113.80 on Friday. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. 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’s fifty day moving average price is $117.72 and its 200 day moving average price is $123.09. The company has a market capitalization of $25.83 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share 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 2.39%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PPG shares. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada reduced their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $138.15.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

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.