Cypress Capital Group Decreases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Cypress Capital Group lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 65.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,682 shares of the specialty chemicals company’s stock after selling 3,172 shares during the period. Cypress Capital Group’s holdings in PPG Industries were worth $201,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PPG. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries in the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new position in PPG Industries during the 3rd quarter valued at about $34,000. Albion Financial Group UT purchased a new position in PPG Industries during the 4th quarter valued at about $38,000. Finally, Hara Capital LLC purchased a new position in PPG Industries during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 1.1 %

PPG stock opened at $115.39 on Friday. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61. The business’s 50 day moving average price is $116.92 and its two-hundred day moving average price is $122.82. 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 company has a market capitalization of $26.19 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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%. As a group, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.36%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Transactions at PPG Industries

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 value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Mizuho reduced 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. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $138.15.

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.