Wealth Enhancement Advisory Services LLC Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

Wealth Enhancement Advisory Services LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,259 shares of the specialty chemicals company's stock after selling 4,807 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in PPG Industries were worth $8,114,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Connections Group Inc. purchased a new stake in shares of PPG Industries in the second quarter worth about $25,000. Rothschild Investment LLC purchased a new stake in PPG Industries during the second quarter valued at $37,000. LRI Investments LLC purchased a new position in shares of PPG Industries in the 1st quarter worth $53,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of PPG Industries by 103.6% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company's stock worth $58,000 after buying an additional 203 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of PPG Industries during the 1st quarter valued at about $61,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Trading Up 0.4 %

Shares of PPG Industries stock opened at $127.00 on Wednesday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market cap of $29.46 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The firm has a fifty day moving average price of $128.03 and a 200 day moving average price of $128.44.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 EPS. Equities research analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's dividend payout ratio is presently 43.11%.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. BMO Capital Markets restated an "outperform" rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report 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 report on Tuesday, October 22nd. KeyCorp lowered their target price on shares of PPG Industries from $162.00 to $153.00 and set an "overweight" rating for the company in a report on Monday, July 22nd. Finally, Bank of America cut their price target on shares of PPG Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.93.

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.