Schonfeld Strategic Advisors LLC Trims Stake in PPG Industries, Inc. (NYSE:PPG)

Schonfeld Strategic Advisors LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 98.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,714 shares of the specialty chemicals company's stock after selling 94,400 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in PPG Industries were worth $205,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. PUREfi Wealth LLC bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $279,000. JGP Wealth Management LLC bought a new stake in PPG Industries during the fourth quarter worth $4,050,000. Vanguard Group Inc. lifted its holdings in PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after acquiring an additional 756,937 shares during the period. Avanza Fonder AB bought a new stake in PPG Industries during the fourth quarter worth $2,944,000. Finally, Lebenthal Global Advisors LLC bought a new stake in PPG Industries during the fourth quarter worth $409,000. Institutional investors own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PPG. Royal Bank of Canada lifted their price target on PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Bank of America reiterated a "neutral" rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. UBS Group lifted 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. Citigroup dropped their price target on PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, PPG Industries presently has an average rating of "Moderate Buy" and a consensus price target of $128.42.

PPG Industries Stock Performance

Shares of NYSE PPG traded up $0.93 during mid-day trading on Friday, hitting $113.99. The company had a trading volume of 3,275,448 shares, compared to its average volume of 1,820,431. The company has a market capitalization of $25.88 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. 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 stock's 50-day moving average price is $106.44 and its 200-day moving average price is $115.20.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.87 earnings per share. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is presently 58.24%.

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.