PPG Industries, Inc. (NYSE:PPG) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC cut its holdings in PPG Industries, Inc. (NYSE:PPGFree Report) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,027 shares of the specialty chemicals company’s stock after selling 552 shares during the quarter. Advisory Services Network LLC’s holdings in PPG Industries were worth $901,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PPG. Valued Wealth Advisors LLC purchased a new position in PPG Industries in the 4th quarter worth $26,000. SJS Investment Consulting Inc. raised its position in PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 153 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in PPG Industries during the 4th quarter valued at approximately $27,000. CVA Family Office LLC purchased a new stake in shares of PPG Industries in the 4th quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of PPG Industries in the fourth quarter worth $29,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish bought 2,061 shares of the stock in a transaction on Wednesday, May 8th. The stock was bought at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the purchase, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,774,388.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PPG. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. KeyCorp cut their target price on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. UBS Group lowered their price target on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $155.47.

Get Our Latest Report on PPG

PPG Industries Trading Up 1.5 %

Shares of PPG opened at $129.12 on Friday. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89. The firm has a market capitalization of $30.28 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.58 and a beta of 1.30. The firm has a 50-day moving average price of $135.24 and a 200 day moving average price of $139.91. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPGGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. During the same quarter in the prior year, the company posted $1.82 EPS. The business’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 8.44 EPS for the current year.

PPG Industries declared that its board has initiated a stock buyback program on Thursday, April 18th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

PPG Industries Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPGFree Report).

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

Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.