SVB Wealth LLC Increases Holdings in PPG Industries, Inc. (NYSE:PPG)

SVB Wealth LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,966 shares of the specialty chemicals company’s stock after purchasing an additional 414 shares during the period. SVB Wealth LLC’s holdings in PPG Industries were worth $5,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Valued Wealth Advisors LLC purchased a new stake in PPG Industries in the fourth quarter worth $26,000. SJS Investment Consulting Inc. grew its position in shares of PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 153 shares in the last quarter. CVA Family Office LLC bought a new position in shares of PPG Industries during the 4th quarter worth $28,000. Quarry LP bought a new position in shares of PPG Industries during the 2nd quarter worth $29,000. Finally, Financial Connections Group Inc. bought a new position in shares of PPG Industries during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 1.1 %

Shares of NYSE:PPG opened at $133.52 on Wednesday. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The stock has a market cap of $31.43 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.61 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $140.69 and a 200-day moving average price of $138.93.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.04. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts predict that PPG Industries, Inc. will post 8.46 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 15th. PPG Industries’s payout ratio is 48.69%.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PPG shares. Citigroup dropped their price target on PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $150.00 to $163.00 in a research report on Thursday, April 11th. Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $163.00 to $149.00 in a research report on Tuesday, February 27th. KeyCorp dropped their price objective on PPG Industries from $167.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $150.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.40.

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.