Sentry Investment Management LLC cut its position in PPG Industries, Inc. (NYSE:PPG) by 8.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 13,757 shares of the specialty chemicals company’s stock after selling 1,221 shares during the quarter. Sentry Investment Management LLC’s holdings in PPG Industries were worth $1,553,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PPG. Taylor Hoffman Wealth Management acquired a new position in PPG Industries in the fourth quarter valued at about $27,000. Oregon Public Employees Retirement Fund boosted its position in PPG Industries by 10,003.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 2,782,589 shares in the last quarter. Paragon Capital Management LLC acquired a new position in PPG Industries in the first quarter valued at about $29,000. Capital Financial Planning LLC acquired a new position in PPG Industries in the fourth quarter valued at about $31,000. Finally, CX Institutional boosted its position in PPG Industries by 797.4% in the first quarter. CX Institutional now owns 341 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 79.33% of the company’s stock.

Shares of NYSE PPG opened at $109.00 on Wednesday. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $121.29. The stock has a market capitalization of $26.16 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.95 and a beta of 1.19. The company has a quick ratio of 0.97, a current ratio of 1.40 and a debt-to-equity ratio of 0.92.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.17. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts anticipate that PPG Industries, Inc. will post 6.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is 32.43%.

A number of research firms have commented on PPG. JPMorgan Chase & Co. lowered shares of PPG Industries from a “neutral” rating to an “underweight” rating and set a $106.00 price target on the stock. in a research report on Friday, March 22nd. Zacks Investment Research downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Barclays boosted their target price on shares of PPG Industries from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. KeyCorp boosted their target price on shares of PPG Industries from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, Buckingham Research boosted their target price on shares of PPG Industries from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. PPG Industries presently has an average rating of “Hold” and a consensus price target of $117.89.

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PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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