EverSource Wealth Advisors LLC Reduces Position in PPG Industries, Inc. (NYSE:PPG)

EverSource Wealth Advisors LLC trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 17.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,830 shares of the specialty chemicals company’s stock after selling 7,995 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in PPG Industries were worth $4,519,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries during the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. raised its position in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the 3rd quarter valued at approximately $34,000. Albion Financial Group UT bought a new stake in shares of PPG Industries during the fourth quarter valued at approximately $38,000. Finally, Crews Bank & Trust purchased a new stake in PPG Industries in the fourth quarter worth $42,000. 81.86% of the stock is currently owned by institutional investors.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were 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 in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by insiders.

PPG Industries Trading Down 0.9 %

PPG stock opened at $113.61 on Wednesday. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The stock has a market capitalization of $25.78 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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’s fifty day simple moving average is $116.62 and its two-hundred day simple moving average is $122.58.

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

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.39%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PPG. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Mizuho lowered their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, December 19th. Nine investment 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 presently has a consensus rating of “Hold” and an average target price of $138.15.

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.