Baldwin Investment Management LLC Decreases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Baldwin Investment Management LLC reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 4.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the specialty chemicals company’s stock after selling 100 shares during the quarter. Baldwin Investment Management LLC’s holdings in PPG Industries were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Financial Connections Group Inc. bought a new stake in PPG Industries in the second quarter worth $25,000. Capital Performance Advisors LLP purchased a new stake in PPG Industries in the 3rd quarter worth about $34,000. Rothschild Investment LLC bought a new stake in PPG Industries in the second quarter worth about $37,000. Hara Capital LLC purchased a new position in shares of PPG Industries during the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of PPG Industries during the third quarter valued at approximately $46,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PPG. JPMorgan Chase & Co. decreased their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Trading Up 0.0 %

Shares of NYSE:PPG opened at $123.41 on Thursday. The company has a market capitalization of $28.63 billion, a PE ratio of 19.56, a P/E/G ratio of 1.92 and a beta of 1.26. 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, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The business’s fifty day simple moving average is $126.80 and its 200-day simple moving average is $127.22.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

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.