FORA Capital LLC Sells 24,264 Shares of PPG Industries, Inc. (NYSE:PPG)

FORA Capital LLC trimmed its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 54.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,706 shares of the specialty chemicals company's stock after selling 24,264 shares during the period. FORA Capital LLC's holdings in PPG Industries were worth $2,473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG boosted its position in PPG Industries by 27.2% in the fourth quarter. Deutsche Bank AG now owns 1,009,056 shares of the specialty chemicals company's stock worth $120,532,000 after purchasing an additional 215,866 shares during the last quarter. Colonial Trust Co SC boosted its position in shares of PPG Industries by 106.8% in the fourth quarter. Colonial Trust Co SC now owns 544 shares of the specialty chemicals company's stock worth $65,000 after purchasing an additional 281 shares during the period. Captrust Financial Advisors boosted its position in shares of PPG Industries by 11.0% in the fourth quarter. Captrust Financial Advisors now owns 20,885 shares of the specialty chemicals company's stock worth $2,495,000 after purchasing an additional 2,072 shares during the period. Cary Street Partners Financial LLC bought a new position in shares of PPG Industries in the fourth quarter worth approximately $1,746,000. Finally, Chapman Financial Group LLC bought a new position in shares of PPG Industries in the fourth quarter worth approximately $74,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PPG shares. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Bank of America reissued a "neutral" rating and issued a $126.00 price target (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Barclays reissued an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. UBS Group boosted their price target on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Finally, Mizuho lowered their price target on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.83.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business's 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 transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company's stock.

PPG Industries Price Performance

PPG stock traded up $0.71 during trading on Friday, hitting $109.32. 1,654,754 shares of the company's stock traded hands, compared to its average volume of 1,801,658. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The business has a fifty day simple moving average of $106.58 and a 200 day simple moving average of $115.51. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 2.19 and a beta of 1.20.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business earned $1.87 earnings per share. PPG Industries's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's dividend payout ratio is currently 58.24%.

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.