PPG Industries, Inc. (PPG) Position Cut by Cim Investment Mangement Inc.

Cim Investment Mangement Inc. reduced its position in PPG Industries, Inc. (NYSE:PPG) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,595 shares of the specialty chemicals company’s stock after selling 265 shares during the period. Cim Investment Mangement Inc.’s holdings in PPG Industries were worth $674,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. Wetherby Asset Management Inc. lifted its position in PPG Industries by 2.1% during the fourth quarter. Wetherby Asset Management Inc. now owns 4,655 shares of the specialty chemicals company’s stock worth $476,000 after acquiring an additional 96 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in PPG Industries by 1.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,422 shares of the specialty chemicals company’s stock worth $656,000 after acquiring an additional 103 shares during the last quarter. UMB Bank N A MO lifted its position in PPG Industries by 2.6% during the fourth quarter. UMB Bank N A MO now owns 4,172 shares of the specialty chemicals company’s stock worth $427,000 after acquiring an additional 107 shares during the last quarter. Lourd Capital LLC lifted its position in PPG Industries by 3.2% during the fourth quarter. Lourd Capital LLC now owns 3,556 shares of the specialty chemicals company’s stock worth $364,000 after acquiring an additional 109 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in PPG Industries by 2.1% during the fourth quarter. Trust Co. of Vermont now owns 5,268 shares of the specialty chemicals company’s stock worth $538,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.

Several equities research analysts have issued reports on PPG shares. Credit Suisse Group set a $115.00 price objective on shares of PPG Industries and gave the stock a “hold” rating in a research report on Monday, October 15th. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $105.00 price target for the company in a research report on Friday, October 19th. BMO Capital Markets dropped their price target on shares of PPG Industries from $116.00 to $107.00 and set a “hold” rating for the company in a research report on Friday, October 19th. Goldman Sachs Group upgraded shares of PPG Industries from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 29th. Finally, Deutsche Bank lifted their price target on shares of PPG Industries from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $117.25.

Shares of NYSE:PPG opened at $104.86 on Monday. The company has a market capitalization of $25.15 billion, a P/E ratio of 17.71, a PEG ratio of 1.98 and a beta of 1.20. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 0.99. PPG Industries, Inc. has a 1 year low of $94.37 and a 1 year high of $118.62.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.65 billion. PPG Industries had a net margin of 8.84% and a return on equity of 27.86%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. As a group, equities analysts predict that PPG Industries, Inc. will post 6.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Friday, February 22nd will be paid a $0.48 dividend. The ex-dividend date is Thursday, February 21st. This represents a $1.92 dividend on an annualized basis and a yield of 1.83%. PPG Industries’s dividend payout ratio (DPR) is 32.43%.

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PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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