Guggenheim Capital LLC Sells 421 Shares of PPG Industries, Inc. (NYSE:PPG)

Guggenheim Capital LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,687 shares of the specialty chemicals company’s stock after selling 421 shares during the period. Guggenheim Capital LLC’s holdings in PPG Industries were worth $1,874,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Mutual Advisors LLC grew its position in shares of PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after buying an additional 92 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 95 shares during the period. Kingsview Wealth Management LLC grew its holdings in PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock worth $990,000 after purchasing an additional 103 shares during the period. Sachetta LLC increased its stake in PPG Industries by 18.4% in the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock valued at $81,000 after purchasing an additional 105 shares in the last quarter. Finally, Savant Capital LLC raised its holdings in shares of PPG Industries by 0.9% during the fourth quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock valued at $1,407,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of research reports. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of PPG Industries from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $132.31.

Get Our Latest Report on PPG

PPG Industries Stock Up 1.6 %

PPG Industries stock opened at $100.00 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $22.70 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.19 and a beta of 1.16. The firm has a 50 day moving average price of $109.37 and a 200-day moving average price of $117.88. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

PPG Industries (NYSE:PPGGet Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.72%. PPG Industries’s dividend payout ratio is presently 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.

See Also

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

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