Pacer Advisors Inc. Has $4.14 Million Position in PPG Industries, Inc. (NYSE:PPG)

Pacer Advisors Inc. cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 26.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,622 shares of the specialty chemicals company’s stock after selling 12,425 shares during the period. Pacer Advisors Inc.’s holdings in PPG Industries were worth $4,136,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new position in PPG Industries during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $34,000. Hara Capital LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $40,000. Finally, Albion Financial Group UT bought a new stake in PPG Industries in the 4th quarter valued at $38,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $122.79 on Friday. 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 has a market capitalization of $28.49 billion, a PE ratio of 19.46, a PEG ratio of 1.93 and a beta of 1.24. The firm has a 50 day moving average of $121.25 and a 200-day moving average of $124.58. PPG Industries, Inc. has a 12 month low of $113.00 and a 12 month high of $145.60.

PPG Industries (NYSE:PPG) last issued its 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 net margin of 8.24% and a return on equity of 23.63%. On average, equities research analysts predict that PPG Industries, Inc. will post 8.15 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 43.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.23.

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.