Kessler Investment Group LLC Has $478,000 Position in PPG Industries, Inc. (NYSE:PPG)

Kessler Investment Group LLC lowered its position in PPG Industries, Inc. (NYSE:PPG) by 11.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,000 shares of the specialty chemicals company’s stock after selling 508 shares during the period. Kessler Investment Group LLC’s holdings in PPG Industries were worth $478,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares during the last quarter. Wellington Management Group LLP grew its holdings in PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after purchasing an additional 485,597 shares during the last quarter. FMR LLC grew its holdings in PPG Industries by 68.3% during the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after purchasing an additional 354,740 shares during the last quarter. International Assets Investment Management LLC grew its holdings in PPG Industries by 189.6% during the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after purchasing an additional 279,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in PPG Industries by 65.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock valued at $62,474,000 after purchasing an additional 206,853 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

PPG has been the topic of several analyst reports. Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays lowered their price target on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, UBS Group lowered their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Stock Down 0.1 %

PPG opened at $117.75 on Friday. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm’s fifty day moving average price is $119.18 and its two-hundred day moving average price is $123.54. The company has a market capitalization of $27.32 billion, a P/E ratio of 24.89, a P/E/G ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.31%. PPG Industries’s payout ratio is presently 57.51%.

PPG Industries 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.