Independent Advisor Alliance Trims Stock Position in PPG Industries, Inc. (NYSE:PPG)

Independent Advisor Alliance decreased its holdings in PPG Industries, Inc. (NYSE:PPGFree Report) by 20.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,439 shares of the specialty chemicals company’s stock after selling 2,114 shares during the period. Independent Advisor Alliance’s holdings in PPG Industries were worth $1,262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. J.W. Cole Advisors Inc. raised its stake in PPG Industries by 6.7% during the fourth quarter. J.W. Cole Advisors Inc. now owns 11,004 shares of the specialty chemicals company’s stock worth $1,646,000 after purchasing an additional 690 shares during the period. FMR LLC lifted its stake in shares of PPG Industries by 11.0% in the 3rd quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock valued at $46,512,000 after purchasing an additional 35,571 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of PPG Industries by 137.5% during the 4th quarter. Cerity Partners LLC now owns 34,937 shares of the specialty chemicals company’s stock worth $5,224,000 after purchasing an additional 20,226 shares during the period. Nomura Holdings Inc. increased its position in PPG Industries by 2.3% during the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock worth $1,101,000 after purchasing an additional 192 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in PPG Industries in the fourth quarter valued at approximately $22,048,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $134.44 on Monday. The firm’s 50 day moving average is $136.98 and its two-hundred day moving average is $139.85. The firm has a market capitalization of $31.53 billion, a P/E ratio of 22.71, a PEG ratio of 1.67 and a beta of 1.30. 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, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89.

PPG Industries (NYSE:PPGGet Free Report) last announced its 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 return on equity of 22.98% and a net margin of 7.74%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.82 earnings per share. Analysts anticipate that PPG Industries, Inc. will post 8.44 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 1.93%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

PPG Industries declared that its board has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PPG shares. Citigroup cut their target price on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. BMO Capital Markets lowered their target price on PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd. Barclays decreased their price target on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Finally, Seaport Res Ptn upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.47.

View Our Latest Analysis on PPG

Insider Activity

In other news, CEO Timothy M. Knavish bought 2,061 shares of the 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 purchase, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Timothy M. Knavish purchased 2,061 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $133.24 per share, with a total value of $274,607.64. Following the acquisition, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,774,388.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

About PPG Industries

(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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