PPG Industries, Inc. (NYSE:PPG) Holdings Cut by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,526 shares of the specialty chemicals company’s stock after selling 130 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in PPG Industries were worth $302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Insight Folios Inc increased its position in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after buying an additional 81 shares during the period. Bradley Foster & Sargent Inc. CT increased its holdings in shares of PPG Industries by 1.7% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company’s stock worth $669,000 after acquiring an additional 90 shares during the period. Alpha DNA Investment Management LLC lifted its position in PPG Industries by 1.1% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment boosted its stake in PPG Industries by 1.2% during the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after purchasing an additional 93 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in PPG Industries by 1.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 8,185 shares of the specialty chemicals company’s stock worth $1,084,000 after purchasing an additional 107 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

PPG has been the subject of several analyst reports. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada cut their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Stock Performance

PPG opened at $113.30 on Friday. The business has a fifty day simple moving average of $122.03 and a 200-day simple moving average of $125.05. The firm has a market cap of $26.29 billion, a PE ratio of 17.96, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a fifty-two week low of $113.14 and a fifty-two week high of $147.76.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. PPG Industries’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

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.