TD Private Client Wealth LLC Reduces Stake in PPG Industries, Inc. (NYSE:PPG)

TD Private Client Wealth LLC lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 25.7% during the 4th quarter, Holdings Channel reports. The fund owned 4,760 shares of the specialty chemicals company’s stock after selling 1,646 shares during the quarter. TD Private Client Wealth LLC’s holdings in PPG Industries were worth $569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of PPG Industries during the 4th quarter valued at approximately $38,000. Crews Bank & Trust purchased a new stake in shares of PPG Industries during the 4th quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in PPG Industries in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PPG. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada decreased their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $138.15.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the 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 transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

PPG Industries Stock Performance

NYSE:PPG opened at $113.07 on Tuesday. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61. The company has a fifty day simple moving average of $116.06 and a two-hundred day simple moving average of $121.61. 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 cap of $25.66 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) 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 net margin of 6.41% and a return on equity of 23.78%. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.41%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

PPG Industries Company 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.