Corient Private Wealth LLC Decreases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Corient Private Wealth LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,974 shares of the specialty chemicals company's stock after selling 12,720 shares during the period. Corient Private Wealth LLC's holdings in PPG Industries were worth $8,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. Legend Financial Advisors Inc. bought a new stake in PPG Industries during the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. grew its holdings 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 purchasing an additional 200 shares in the last quarter. Albion Financial Group UT bought a new position in shares of PPG Industries in the fourth quarter worth approximately $38,000. Crews Bank & Trust purchased a new stake in PPG Industries in the fourth quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC bought a new stake in PPG Industries during the fourth quarter valued at approximately $44,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PPG shares. Citigroup dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut shares of PPG Industries from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $138.15.

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PPG Industries Trading Down 1.3 %

Shares of PPG stock traded down $1.43 during trading hours on Tuesday, reaching $111.55. The company's stock had a trading volume of 1,818,942 shares, compared to its average volume of 1,617,964. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $25.32 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.19 and a beta of 1.22. The firm's fifty day simple moving average is $116.06 and its 200 day simple moving average is $121.61. PPG Industries, Inc. has a one year low of $109.15 and a one year high of $145.61.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

PPG Industries Company 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.