Adams Natural Resources Fund Inc. Decreases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Adams Natural Resources Fund Inc. reduced its position in PPG Industries, Inc. (NYSE:PPG) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,100 shares of the specialty chemicals company’s stock after selling 600 shares during the period. PPG Industries makes up approximately 1.0% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 23rd largest holding. Adams Natural Resources Fund Inc.’s holdings in PPG Industries were worth $6,504,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PPG. Vest Financial LLC grew its position in shares of PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after purchasing an additional 75,620 shares in the last quarter. BDF Gestion purchased a new position in shares of PPG Industries in the second quarter valued at $3,452,000. State Board of Administration of Florida Retirement System grew its position in shares of PPG Industries by 8.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after purchasing an additional 22,079 shares in the last quarter. Vanguard Group Inc. grew its position in shares of PPG Industries by 17.2% in the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of PPG Industries in the third quarter valued at $604,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Down 0.7 %

Shares of PPG stock opened at $126.52 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $128.03 and a two-hundred day moving average price of $128.44. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The firm has a market cap of $29.35 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $2.07 EPS. The company’s revenue was down 1.5% on a year-over-year basis. Equities analysts anticipate that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PPG. Mizuho reduced their price target 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. Bank of America reduced their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. UBS Group boosted their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Citigroup reduced their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

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.