Commonwealth Equity Services LLC Decreases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Commonwealth Equity Services LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 61,143 shares of the specialty chemicals company’s stock after selling 2,625 shares during the period. Commonwealth Equity Services LLC’s holdings in PPG Industries were worth $7,304,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Alpha DNA Investment Management LLC lifted its position in PPG Industries by 1.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after purchasing an additional 92 shares during the last quarter. Mutual Advisors LLC lifted its position in PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment lifted its position in PPG Industries by 1.2% during the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after purchasing an additional 93 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in PPG Industries by 28.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after purchasing an additional 95 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in PPG Industries by 1.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 1.6 %

Shares of PPG opened at $111.29 on Friday. PPG Industries, Inc. has a 1-year low of $109.15 and a 1-year high of $145.61. The company has a 50-day moving average of $116.15 and a 200 day moving average of $121.91. The firm has a market capitalization of $25.26 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced 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%. On average, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Analyst Ratings Changes

Several research firms have commented on PPG. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their target price 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. Barclays restated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $138.15.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’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 transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

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.