Gratus Capital LLC Sells 2,061 Shares of PPG Industries, Inc. (PPG)

Gratus Capital LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 45,255 shares of the specialty chemicals company’s stock after selling 2,061 shares during the period. Gratus Capital LLC’s holdings in PPG Industries were worth $5,287,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Cerebellum GP LLC bought a new position in shares of PPG Industries in the 4th quarter worth approximately $128,000. SeaCrest Wealth Management LLC bought a new position in shares of PPG Industries in the 4th quarter worth approximately $132,000. Bristlecone Advisors LLC bought a new position in shares of PPG Industries in the 3rd quarter worth approximately $179,000. V Wealth Management LLC bought a new position in shares of PPG Industries in the 4th quarter worth approximately $204,000. Finally, Waldron LP bought a new position in shares of PPG Industries in the 4th quarter worth approximately $214,000. Hedge funds and other institutional investors own 75.21% of the company’s stock.

Shares of PPG Industries, Inc. (PPG) opened at $110.30 on Friday. The stock has a market cap of $29,043.33, a P/E ratio of 17.48, a PEG ratio of 1.99 and a beta of 1.58. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a 1 year low of $99.79 and a 1 year high of $122.07.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.61 billion. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. sell-side analysts expect that PPG Industries, Inc. will post 6.57 EPS for the current year.

PPG Industries declared that its board has authorized a share repurchase plan on Thursday, December 14th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, February 15th. PPG Industries’s dividend payout ratio (DPR) is presently 28.53%.

A number of equities research analysts have commented on PPG shares. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Credit Suisse Group set a $119.00 target price on shares of PPG Industries and gave the stock a “buy” rating in a research note on Friday, October 20th. Jefferies Group restated a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research note on Thursday, October 19th. Bank of America set a $120.00 target price on shares of PPG Industries and gave the stock a “hold” rating in a research note on Friday, October 20th. Finally, Citigroup raised their target price on shares of PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $123.35.

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About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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