PPG Industries, Inc. (NYSE:PPG) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 19.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,881 shares of the specialty chemicals company’s stock after selling 16,681 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in PPG Industries were worth $8,228,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the 4th quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its position in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries during the third quarter worth about $34,000. Albion Financial Group UT purchased a new stake in shares of PPG Industries during the fourth quarter worth about $38,000. Finally, Hara Capital LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth about $40,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of PPG stock opened at $113.80 on Friday. 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 company has a market capitalization of $25.83 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. The firm’s 50-day moving average is $117.72 and its two-hundred day moving average is $123.09. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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%. Analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Analyst Ratings Changes

Several equities research analysts have commented on PPG shares. Mizuho cut their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Citigroup lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada lowered their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $138.15.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 owns 35,833 shares of the company’s stock, 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 filing with the SEC, which is available through the SEC website. 0.56% of the stock is owned by 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.