PPG Industries, Inc. (NYSE:PPG) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,753 shares of the specialty chemicals company’s stock after selling 1,669 shares during the period. Janus Henderson Group PLC’s holdings in PPG Industries were worth $4,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prudent Man Investment Management Inc. acquired a new stake in PPG Industries during the 4th quarter valued at approximately $36,000. Albion Financial Group UT acquired a new stake in PPG Industries during the 4th quarter valued at approximately $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries in the 4th quarter valued at $42,000. Sugar Maple Asset Management LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at $44,000. Finally, Millstone Evans Group LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at $46,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG Industries stock opened at $114.16 on Tuesday. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The firm has a market capitalization of $25.91 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.19 and a beta of 1.20. The company has a fifty day simple moving average of $106.50 and a 200-day simple moving average of $114.99. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the firm earned $1.87 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s payout ratio is 58.24%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PPG. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Bank of America reiterated a “neutral” rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Finally, StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.42.

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.