Duality Advisers LP Cuts Holdings in PPG Industries, Inc. (NYSE:PPG)

Duality Advisers LP lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 17.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,146 shares of the specialty chemicals company’s stock after selling 6,561 shares during the quarter. Duality Advisers LP’s holdings in PPG Industries were worth $4,807,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PPG. Valued Wealth Advisors LLC bought a new stake in PPG Industries during the fourth quarter worth about $26,000. SJS Investment Consulting Inc. lifted its position in PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 153 shares during the last quarter. CVA Family Office LLC purchased a new stake in PPG Industries in the fourth quarter worth approximately $28,000. Quarry LP bought a new position in PPG Industries during the second quarter valued at approximately $29,000. Finally, Financial Connections Group Inc. purchased a new position in shares of PPG Industries during the fourth quarter worth approximately $30,000. 81.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PPG. Redburn Atlantic cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $163.00 in a research note on Thursday, April 11th. Citigroup decreased their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. KeyCorp dropped their target price on PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Finally, Wolfe Research began coverage on PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $158.00.

PPG Industries Trading Down 3.1 %

NYSE PPG traded down $4.21 during trading on Friday, hitting $130.90. The company had a trading volume of 4,643,208 shares, compared to its average volume of 1,358,483. The company’s fifty day moving average is $140.36 and its 200-day moving average is $138.99. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. The company has a market cap of $30.81 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 23.13%. PPG Industries’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 earnings per share. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 9th. PPG Industries’s payout ratio is presently 43.92%.

Insider Activity at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

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.