Whalerock Point Partners LLC Has $609,000 Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Whalerock Point Partners LLC lessened its position in PPG Industries, Inc. (NYSE:PPG) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,101 shares of the specialty chemicals company’s stock after selling 100 shares during the period. Whalerock Point Partners LLC’s holdings in PPG Industries were worth $609,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the 4th quarter worth $27,000. Prudent Man Investment Management Inc. acquired a new stake in PPG Industries during the 4th quarter worth approximately $36,000. Albion Financial Group UT bought a new position in PPG Industries in the fourth quarter valued at approximately $38,000. Crews Bank & Trust bought a new stake in shares of PPG Industries during the fourth quarter worth $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. 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. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Wells Fargo & Company decreased their price target on shares of PPG Industries from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada reduced their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $130.67.

Insider Activity 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 stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Stock Performance

PPG opened at $102.65 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The business has a 50 day moving average of $107.82 and a 200-day moving average of $117.05. The stock has a market cap of $23.30 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last announced 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 net margin of 6.41% and a return on equity of 23.78%. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.65%. PPG Industries’s dividend payout ratio (DPR) is presently 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.