Clarius Group LLC Sells 91 Shares of PPG Industries, Inc. (NYSE:PPG)

Clarius Group LLC reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,574 shares of the specialty chemicals company’s stock after selling 91 shares during the period. Clarius Group LLC’s holdings in PPG Industries were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of PPG Industries during the third quarter worth about $76,000. Bruce G. Allen Investments LLC grew its holdings in shares of PPG Industries by 14.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,092 shares of the specialty chemicals company’s stock worth $145,000 after purchasing an additional 138 shares during the last quarter. CWM LLC grew its holdings in shares of PPG Industries by 24.7% during the third quarter. CWM LLC now owns 11,886 shares of the specialty chemicals company’s stock worth $1,574,000 after purchasing an additional 2,351 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in shares of PPG Industries by 37.8% during the third quarter. Daymark Wealth Partners LLC now owns 51,861 shares of the specialty chemicals company’s stock worth $6,870,000 after purchasing an additional 14,235 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of PPG Industries by 41.4% during the third quarter. Diversified Trust Co now owns 40,433 shares of the specialty chemicals company’s stock worth $5,356,000 after purchasing an additional 11,836 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $128.25 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The stock’s 50 day moving average is $126.09 and its 200-day moving average is $129.58. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the firm earned $2.25 earnings per share. PPG Industries’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts forecast that PPG Industries, Inc. will post 8.24 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, August 12th. PPG Industries’s dividend payout ratio is presently 44.59%.

Analysts Set New Price Targets

Several analysts recently commented on PPG shares. BMO Capital Markets reduced their target price on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada reduced their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. KeyCorp reduced their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Bank of America reduced their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, UBS Group upped their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $151.08.

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.