PPG Industries, Inc. (NYSE:PPG) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lowered its position in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,798 shares of the specialty chemicals company’s stock after selling 158 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in PPG Industries were worth $840,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in PPG Industries by 17.2% during the fourth quarter. Vanguard Group Inc. now owns 24,480,664 shares of the specialty chemicals company’s stock worth $3,661,083,000 after purchasing an additional 3,600,558 shares during the last quarter. Norges Bank bought a new position in shares of PPG Industries in the 4th quarter worth about $554,685,000. Morgan Stanley boosted its holdings in shares of PPG Industries by 12.4% in the 3rd quarter. Morgan Stanley now owns 3,102,602 shares of the specialty chemicals company’s stock valued at $402,718,000 after buying an additional 341,977 shares during the period. Putnam Investments LLC boosted its holdings in shares of PPG Industries by 3.1% in the 4th quarter. Putnam Investments LLC now owns 2,659,974 shares of the specialty chemicals company’s stock valued at $397,799,000 after buying an additional 81,200 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PPG Industries by 37.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,839,000 shares of the specialty chemicals company’s stock valued at $270,876,000 after buying an additional 496,998 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PPG. Evercore ISI downgraded PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price for the company. in a research note on Monday, April 22nd. UBS Group lowered their price objective on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $163.00 in a research report on Thursday, April 11th. Bank of America reduced their price target on shares of PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Seaport Res Ptn raised shares of PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $155.47.

View Our Latest Stock Report on PPG Industries

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish purchased 2,061 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,774,388.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

PPG Industries Stock Performance

PPG opened at $125.23 on Friday. PPG Industries, Inc. has a 1-year low of $120.32 and a 1-year high of $152.89. The company has a market capitalization of $29.37 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.55 and a beta of 1.26. The business has a 50 day moving average price of $130.21 and a two-hundred day moving average price of $137.56. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08.

PPG Industries (NYSE:PPGGet Free Report) last announced its quarterly earnings data 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 analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 earnings per share. Research analysts predict that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 10th were issued a $0.65 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.08%. PPG Industries’s payout ratio is currently 43.92%.

PPG Industries declared that its Board of Directors has authorized a share buyback program on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

PPG Industries Company 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.

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

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