Jennison Associates LLC Has $582,000 Holdings in PPG Industries, Inc. (NYSE:PPG)

Jennison Associates LLC lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 16.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,397 shares of the specialty chemicals company’s stock after selling 868 shares during the quarter. Jennison Associates LLC’s holdings in PPG Industries were worth $582,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Insight Folios Inc raised its stake in PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after buying an additional 81 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of PPG Industries by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares during the period. Klingman & Associates LLC increased its position in shares of PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after acquiring an additional 83 shares during the last quarter. Fragasso Financial Advisors Inc increased its position in shares of PPG Industries by 0.6% in the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after acquiring an additional 84 shares during the last quarter. Finally, SeaCrest Wealth Management LLC increased its position in shares of PPG Industries by 2.6% in the second quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 0.0 %

Shares of NYSE:PPG opened at $122.65 on Monday. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The stock has a market cap of $28.45 billion, a PE ratio of 19.44, a P/E/G ratio of 1.88 and a beta of 1.26. The business has a 50 day moving average of $127.00 and a 200-day moving average of $127.40. 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 issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm earned $2.07 EPS. The company’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s payout ratio is 43.11%.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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 report on Friday, October 18th. Mizuho lowered 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. Royal Bank of Canada lowered their target price on 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. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

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.