Nisa Investment Advisors LLC Cuts Stake in PPG Industries, Inc. (NYSE:PPG)

Nisa Investment Advisors LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,372 shares of the specialty chemicals company’s stock after selling 3,227 shares during the quarter. Nisa Investment Advisors LLC’s holdings in PPG Industries were worth $6,010,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. 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 during the last quarter. BDF Gestion acquired a new position in shares of PPG Industries in the second quarter valued at approximately $3,452,000. State Board of Administration of Florida Retirement System lifted its stake in shares of PPG Industries by 8.8% during 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 buying an additional 22,079 shares during the period. Vanguard Group Inc. boosted its position in PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after acquiring an additional 4,222,402 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in PPG Industries in the 3rd quarter worth approximately $604,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PPG shares. Citigroup reduced their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Mizuho decreased their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Barclays dropped their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. KeyCorp cut their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Down 0.9 %

Shares of PPG Industries stock opened at $124.51 on Friday. The company has a fifty day moving average price of $128.03 and a 200 day moving average price of $128.39. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The stock has a market cap of $28.89 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26.

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

PPG Industries Announces Dividend

The company 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. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.18%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

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.