LPL Financial LLC Increases Position in PPG Industries, Inc. (NYSE:PPG)

LPL Financial LLC raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,106 shares of the specialty chemicals company’s stock after buying an additional 452 shares during the period. LPL Financial LLC owned about 0.09% of PPG Industries worth $25,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PPG. Legend Financial Advisors Inc. acquired a new position in PPG Industries in the 4th quarter valued at about $27,000. Albion Financial Group UT acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $38,000. Crews Bank & Trust purchased a new stake in PPG Industries during the 4th quarter worth approximately $42,000. Sugar Maple Asset Management LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $44,000. Finally, Millstone Evans Group LLC purchased a new position in PPG Industries in the 4th quarter valued at approximately $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PPG. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Argus cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $138.15.

PPG Industries Stock Down 1.0 %

PPG opened at $107.32 on Friday. The stock has a market capitalization of $24.36 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a one year low of $105.64 and a one year high of $145.61. The business’s 50-day simple moving average is $115.37 and its 200-day simple moving average is $121.20.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

PPG Industries 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.