PPG Industries, Inc. (NYSE:PPG) Position Trimmed by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,829 shares of the specialty chemicals company’s stock after selling 113 shares during the period. Checchi Capital Advisers LLC’s holdings in PPG Industries were worth $218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its holdings in shares of PPG Industries by 6.9% during the 3rd quarter. Private Advisor Group LLC now owns 12,123 shares of the specialty chemicals company’s stock worth $1,606,000 after purchasing an additional 781 shares during the period. abrdn plc grew its position in PPG Industries by 1.1% during the third quarter. abrdn plc now owns 266,825 shares of the specialty chemicals company’s stock worth $35,194,000 after buying an additional 2,894 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in PPG Industries by 15.2% during the third quarter. Pinnacle Associates Ltd. now owns 2,224 shares of the specialty chemicals company’s stock valued at $295,000 after acquiring an additional 293 shares during the period. Stephens Inc. AR raised its holdings in PPG Industries by 3.7% in the 3rd quarter. Stephens Inc. AR now owns 11,534 shares of the specialty chemicals company’s stock valued at $1,528,000 after acquiring an additional 409 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of PPG Industries by 3.2% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 5,022 shares of the specialty chemicals company’s stock worth $665,000 after purchasing an additional 157 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 1.1 %

Shares of PPG stock opened at $113.80 on Friday. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60. 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 firm has a fifty day moving average of $117.72 and a 200-day moving average of $123.09. The company has a market capitalization of $25.83 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 2.19 and a beta of 1.23.

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

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Analyst Ratings Changes

PPG has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Citigroup reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. 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 research note on Wednesday, February 12th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, Mizuho decreased their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $138.15.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

About PPG Industries

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.