Good Life Advisors LLC Has $276,000 Stake in PPG Industries, Inc. (NYSE:PPG)

Good Life Advisors LLC decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 6.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,307 shares of the specialty chemicals company’s stock after selling 154 shares during the period. Good Life Advisors LLC’s holdings in PPG Industries were worth $276,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp grew its holdings in 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 buying an additional 491,774 shares during the last quarter. Wellington Management Group LLP grew its holdings in PPG Industries by 5.7% in 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 buying an additional 485,597 shares during the last quarter. FMR LLC grew its holdings in PPG Industries by 68.3% in the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after buying an additional 354,740 shares during the last quarter. International Assets Investment Management LLC grew its holdings in PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after buying an additional 279,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in PPG Industries by 65.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock valued at $62,474,000 after buying an additional 206,853 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $114.88 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market capitalization of $26.65 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The business has a 50 day simple moving average of $118.29 and a 200 day simple moving average of $123.22.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s dividend payout ratio is 57.51%.

Analyst Ratings Changes

A number of research firms have issued reports on PPG. Wells Fargo & Company lowered their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, Citigroup reduced 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. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.55% of the company’s stock.

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.