PPG Industries, Inc. (NYSE:PPG) Stock Position Decreased by Procyon Advisors LLC

Procyon Advisors LLC cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,421 shares of the specialty chemicals company’s stock after selling 83 shares during the period. Procyon Advisors LLC’s holdings in PPG Industries were worth $3,204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PPG. OFI Invest Asset Management purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC bought a new position in shares of PPG Industries in the 4th quarter valued at approximately $26,000. SJS Investment Consulting Inc. raised its stake in shares of PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 153 shares in the last quarter. CVA Family Office LLC bought a new position in shares of PPG Industries in the 4th quarter valued at approximately $28,000. Finally, Harbour Investments Inc. raised its stake in shares of PPG Industries by 84.9% in the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 101 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PPG. UBS Group reissued a “neutral” rating and issued a $156.00 price objective (down from $173.00) on shares of PPG Industries in a research note on Thursday, March 7th. Redburn Atlantic downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $163.00 to $149.00 in a research note on Tuesday, February 27th. Finally, Wolfe Research began coverage on PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and an average target price of $157.13.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

PPG stock traded up $0.72 during trading on Thursday, hitting $145.26. The company had a trading volume of 75,792 shares, compared to its average volume of 1,760,693. The company has a fifty day moving average price of $141.22 and a two-hundred day moving average price of $138.04. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. The company has a market cap of $34.19 billion, a P/E ratio of 27.07, a P/E/G ratio of 1.40 and a beta of 1.28. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.49 by $0.04. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. PPG Industries’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 EPS. Equities research analysts expect that PPG Industries, Inc. will post 8.45 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Thursday, February 15th. PPG Industries’s dividend payout ratio is currently 48.69%.

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.