Atria Wealth Solutions Inc. Has $1.52 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Atria Wealth Solutions Inc. grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,151 shares of the specialty chemicals company’s stock after buying an additional 1,999 shares during the period. Atria Wealth Solutions Inc.’s holdings in PPG Industries were worth $1,518,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Valued Wealth Advisors LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its stake in shares of PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares during the last quarter. CVA Family Office LLC bought a new stake in PPG Industries during the 4th quarter worth $28,000. Financial Connections Group Inc. bought a new stake in PPG Industries during the 4th quarter worth $30,000. Finally, OFI Invest Asset Management bought a new stake in PPG Industries during the 3rd quarter worth $25,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets dropped their price objective on PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 23rd. Barclays dropped their price target on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada reduced their target price on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.47.

PPG Industries Trading Down 1.3 %

NYSE:PPG opened at $129.00 on Wednesday. The company has a market cap of $30.25 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.62 and a beta of 1.28. The stock’s fifty day moving average price is $138.84 and its two-hundred day moving average price is $138.97. PPG Industries, Inc. has a 1 year low of $120.32 and a 1 year high of $152.89. 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:PPG) last posted its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that PPG Industries, Inc. will post 8.45 EPS for the current year.

PPG Industries declared that its board has approved a share buyback plan on Thursday, April 18th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.02%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

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.