PPG Industries, Inc. (NYSE:PPG) Holdings Raised by Modern Wealth Management LLC

Modern Wealth Management LLC increased its stake in PPG Industries, Inc. (NYSE:PPG) by 23.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,149 shares of the specialty chemicals company’s stock after purchasing an additional 411 shares during the quarter. Modern Wealth Management LLC’s holdings in PPG Industries were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PPG. First Eagle Investment Management LLC increased its position in shares of PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after acquiring an additional 1,858,895 shares in the last quarter. Cooke & Bieler LP purchased a new position in PPG Industries during the 4th quarter worth approximately $107,850,000. Vanguard Group Inc. raised its stake in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after purchasing an additional 756,937 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of PPG Industries in the fourth quarter valued at $82,071,000. Finally, State Street Corp boosted its position in shares of PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after buying an additional 491,774 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred 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 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 at the SEC website. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PPG. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $138.15.

PPG Industries Stock Down 1.0 %

Shares of PPG Industries stock opened at $107.32 on Friday. PPG Industries, Inc. has a 12-month low of $105.64 and a 12-month high of $145.61. 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 stock has a 50 day moving average price of $115.37 and a two-hundred day moving average price of $121.23. The stock has a market capitalization of $24.36 billion, a P/E ratio of 22.69, a PEG ratio of 2.19 and a beta of 1.22.

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

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.53%. PPG Industries’s payout ratio is presently 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.