Bryn Mawr Capital Management LLC Cuts Stake in PPG Industries, Inc. (NYSE:PPG)

Bryn Mawr Capital Management LLC lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 44.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,105 shares of the specialty chemicals company’s stock after selling 3,298 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in PPG Industries were worth $490,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PPG. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the 3rd quarter valued at about $34,000. Albion Financial Group UT purchased a new position in shares of PPG Industries in the 4th quarter valued at about $38,000. Finally, Hara Capital LLC purchased a new position in shares of PPG Industries in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $114.88 on Friday. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60. The stock has a market capitalization of $26.65 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.17 and a beta of 1.23. The firm’s 50-day moving average is $118.29 and its two-hundred day moving average is $123.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last released its quarterly 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%. Equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. PPG Industries’s dividend payout ratio is presently 57.51%.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred 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 directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PPG shares. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays lowered their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $138.15.

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.