Northwestern Mutual Wealth Management Co. Sells 901 Shares of PPG Industries, Inc. (NYSE:PPG)

Northwestern Mutual Wealth Management Co. decreased its position in PPG Industries, Inc. (NYSE:PPG) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,873 shares of the specialty chemicals company’s stock after selling 901 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in PPG Industries were worth $1,746,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PPG. Rafferty Asset Management LLC grew its stake in shares of PPG Industries by 3.1% during the 4th quarter. Rafferty Asset Management LLC now owns 20,858 shares of the specialty chemicals company’s stock worth $3,119,000 after acquiring an additional 631 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of PPG Industries by 1.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,287,925 shares of the specialty chemicals company’s stock valued at $192,609,000 after purchasing an additional 17,767 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of PPG Industries by 369.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 34,681 shares of the specialty chemicals company’s stock valued at $5,187,000 after buying an additional 27,291 shares during the last quarter. Stephens Inc. AR increased its stake in PPG Industries by 8.6% in the 4th quarter. Stephens Inc. AR now owns 11,772 shares of the specialty chemicals company’s stock worth $1,760,000 after purchasing an additional 931 shares during the period. Finally, Security National Bank purchased a new position in shares of PPG Industries in the fourth quarter worth $37,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

NYSE PPG opened at $128.57 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company’s 50 day moving average is $125.94 and its two-hundred day moving average is $130.08. The stock has a market cap of $30.15 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.81 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the business earned $2.25 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were issued a dividend of $0.68 per share. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PPG. BMO Capital Markets reduced their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Bank of America decreased their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. KeyCorp lowered their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Barclays decreased their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Finally, Citigroup lowered their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.