Nemes Rush Group LLC Sells 291 Shares of PPG Industries, Inc. (NYSE:PPG)

Nemes Rush Group LLC lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 29.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 704 shares of the specialty chemicals company’s stock after selling 291 shares during the quarter. Nemes Rush Group LLC’s holdings in PPG Industries were worth $84,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legend Financial Advisors Inc. bought a new stake in PPG Industries in the 4th quarter valued at $27,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries in the 4th quarter valued at about $36,000. Albion Financial Group UT bought a new stake in shares of PPG Industries in the fourth quarter valued at about $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries during the fourth quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of PPG Industries during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the 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 completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PPG. UBS Group reduced their price target 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. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group decreased their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $110.03 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $24.97 billion, a PE ratio of 23.26, a PEG ratio of 2.19 and a beta of 1.22. The firm has a 50 day moving average of $114.61 and a 200-day moving average of $120.85. PPG Industries, Inc. has a 12 month low of $105.64 and a 12 month high of $143.98.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.47%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

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.