Knowledge Leaders Capital LLC Sells 332 Shares of PPG Industries, Inc. (NYSE:PPG)

Knowledge Leaders Capital LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,296 shares of the specialty chemicals company’s stock after selling 332 shares during the quarter. PPG Industries comprises about 2.4% of Knowledge Leaders Capital LLC’s investment portfolio, making the stock its 10th largest position. Knowledge Leaders Capital LLC’s holdings in PPG Industries were worth $1,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wedmont Private Capital boosted its position in shares of PPG Industries by 2.9% in the 4th quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after buying an additional 70 shares in the last quarter. Barrett & Company Inc. lifted its holdings in shares of PPG Industries by 10.6% during the 4th quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock worth $114,000 after acquiring an additional 73 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of PPG Industries by 2.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 4,052 shares of the specialty chemicals company’s stock worth $526,000 after acquiring an additional 78 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of PPG Industries by 20.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 462 shares of the specialty chemicals company’s stock worth $69,000 after acquiring an additional 80 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings in shares of PPG Industries by 5.8% during the 4th quarter. WASHINGTON TRUST Co now owns 1,712 shares of the specialty chemicals company’s stock worth $256,000 after acquiring an additional 94 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the company’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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Stock Performance

Shares of PPG stock traded up $0.93 during trading hours on Friday, reaching $130.16. 1,370,846 shares of the company’s stock were exchanged, compared to its average volume of 1,730,382. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The stock has a market capitalization of $30.52 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.60 and a beta of 1.28. The business has a fifty day moving average price of $139.31 and a 200-day moving average price of $138.86. The company has a quick ratio of 1.05, a current ratio of 1.55 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.82 earnings per share. Analysts predict that PPG Industries, Inc. will post 8.45 EPS for the current fiscal year.

PPG Industries declared that its board has authorized a stock repurchase plan on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.00%. PPG Industries’s payout ratio is 43.92%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of research analyst reports. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Bank of America lowered their price target on PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Evercore ISI lowered PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price on the stock. in a report on Monday, April 22nd. BMO Capital Markets lowered their target price on PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Robert W. Baird restated an “outperform” rating and set a $150.00 price objective on shares of PPG Industries in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Hold” and a consensus target price of $155.47.

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.