Commonwealth Equity Services LLC Lowers Stock Position in PPG Industries, Inc. (NYSE:PPG)

Commonwealth Equity Services LLC lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,143 shares of the specialty chemicals company's stock after selling 2,625 shares during the quarter. Commonwealth Equity Services LLC's holdings in PPG Industries were worth $7,304,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PPG. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries during the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. boosted its position in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after buying an additional 200 shares during the period. Albion Financial Group UT acquired a new stake in shares of PPG Industries in the fourth quarter valued at $38,000. Crews Bank & Trust purchased a new stake in shares of PPG Industries in the 4th quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in PPG Industries during the 4th quarter worth about $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PPG has been the subject of several research reports. Mizuho dropped their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Citigroup cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Finally, KeyCorp lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of "Hold" and a consensus price target of $138.15.

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PPG Industries Stock Up 2.1 %

Shares of NYSE:PPG traded up $2.34 on Monday, hitting $113.07. 2,132,868 shares of the company's stock were exchanged, compared to its average volume of 1,618,180. PPG Industries, Inc. has a 1-year low of $109.15 and a 1-year high of $145.61. The company has a market capitalization of $25.66 billion, a PE ratio of 23.90, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm's 50-day moving average is $116.09 and its 200 day moving average is $121.70.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is 57.51%.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

About PPG Industries

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.