PPG Industries, Inc. (NYSE:PPG) Stock Position Trimmed by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its position in PPG Industries, Inc. (NYSE:PPG) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,283 shares of the specialty chemicals company’s stock after selling 162 shares during the quarter. Farther Finance Advisors LLC’s holdings in PPG Industries were worth $273,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after buying an additional 491,774 shares during the period. Wellington Management Group LLP increased its stake in PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after buying an additional 485,597 shares during the period. Franklin Resources Inc. increased its stake in PPG Industries by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock valued at $403,049,000 after buying an additional 170,339 shares during the period. Charles Schwab Investment Management Inc. increased its stake in PPG Industries by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company’s stock valued at $316,349,000 after buying an additional 76,626 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PPG Industries by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock valued at $248,650,000 after buying an additional 36,047 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

PPG Industries stock opened at $113.51 on Wednesday. The firm’s 50 day simple moving average is $116.28 and its 200-day simple moving average is $122.04. The company has a market cap of $25.76 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

Wall Street Analyst Weigh In

Several research firms have commented on PPG. Deutsche Bank Aktiengesellschaft lowered 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 Thursday, December 19th. Citigroup lowered 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. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $138.15.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate 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.