PPG Industries, Inc. (NYSE:PPG) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,040 shares of the specialty chemicals company’s stock after selling 3,441 shares during the period. Calamos Advisors LLC owned approximately 0.06% of PPG Industries worth $16,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Burford Brothers Inc. bought a new stake in PPG Industries during the fourth quarter worth approximately $707,000. Greenleaf Trust lifted its position in shares of PPG Industries by 2.5% in the fourth quarter. Greenleaf Trust now owns 6,958 shares of the specialty chemicals company’s stock worth $831,000 after purchasing an additional 171 shares in the last quarter. Sylvest Advisors LLC acquired a new stake in shares of PPG Industries during the 4th quarter valued at $694,000. New Wave Wealth Advisors LLC lifted its holdings in shares of PPG Industries by 28.7% during the 4th quarter. New Wave Wealth Advisors LLC now owns 2,016 shares of the specialty chemicals company’s stock valued at $241,000 after buying an additional 449 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of PPG Industries in the 4th quarter valued at approximately $42,000. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PPG. Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday. Barclays cut their price target on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Citigroup cut their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, UBS Group decreased their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.25.

PPG Industries Trading Down 2.9 %

Shares of PPG Industries stock opened at $111.99 on Tuesday. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. The company’s fifty day simple moving average is $121.11 and its 200-day simple moving average is $124.33. The company has a market cap of $25.98 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.99 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts expect that PPG Industries, Inc. will post 7.9 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders 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 2.43%. PPG Industries’s dividend payout ratio is currently 57.51%.

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.