Hartford Investment Management Co. Has $1.94 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Hartford Investment Management Co. reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,658 shares of the specialty chemicals company’s stock after selling 396 shares during the quarter. Hartford Investment Management Co.’s holdings in PPG Industries were worth $1,942,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Kingsview Wealth Management LLC increased its holdings in shares of PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after purchasing an additional 76 shares during the period. Applied Capital LLC FL grew its position in PPG Industries by 1.3% during the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after buying an additional 82 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in PPG Industries by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after buying an additional 82 shares in the last quarter. Klingman & Associates LLC increased its stake in PPG Industries by 2.6% during the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after acquiring an additional 83 shares during the period. Finally, Fragasso Financial Advisors Inc raised its holdings in PPG Industries by 0.6% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after acquiring an additional 84 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Up 0.8 %

PPG opened at $127.23 on Friday. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The stock has a market capitalization of $29.52 billion, a PE ratio of 20.16, a PEG ratio of 1.94 and a beta of 1.26. 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 firm has a 50-day moving average price of $127.69 and a two-hundred day moving average price of $128.83.

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

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.14%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is 43.11%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America decreased their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada decreased their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday. Citigroup dropped their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

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.