Private Advisor Group LLC Reduces Position in PPG Industries, Inc. (NYSE:PPG)

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Private Advisor Group LLC reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,993 shares of the specialty chemicals company’s stock after selling 2,147 shares during the period. Private Advisor Group LLC’s holdings in PPG Industries were worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PPG. Trian Fund Management L.P. lifted its holdings in PPG Industries by 69.2% during the 4th quarter. Trian Fund Management L.P. now owns 7,009,412 shares of the specialty chemicals company’s stock worth $716,572,000 after purchasing an additional 2,866,150 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in PPG Industries by 10,003.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 2,782,589 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in PPG Industries by 2.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,144,052 shares of the specialty chemicals company’s stock worth $2,468,246,000 after purchasing an additional 643,315 shares during the last quarter. Norges Bank acquired a new stake in PPG Industries during the 4th quarter worth approximately $36,143,000. Finally, Deutsche Bank AG lifted its holdings in PPG Industries by 24.0% during the 4th quarter. Deutsche Bank AG now owns 1,341,354 shares of the specialty chemicals company’s stock worth $137,116,000 after purchasing an additional 259,442 shares during the last quarter. 78.49% of the stock is owned by institutional investors and hedge funds.

In other news, Director Victoria F. Haynes sold 674 shares of PPG Industries stock in a transaction on Friday, May 24th. The stock was sold at an average price of $107.16, for a total value of $72,225.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP William E. Schaupp sold 2,500 shares of PPG Industries stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total value of $267,200.00. Following the completion of the transaction, the vice president now owns 4,389 shares in the company, valued at approximately $469,096.32. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

NYSE PPG traded down $0.10 during midday trading on Wednesday, hitting $116.75. The company had a trading volume of 11,235 shares, compared to its average volume of 1,306,670. The stock has a market capitalization of $27.66 billion, a PE ratio of 19.77, a P/E/G ratio of 2.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.40 and a quick ratio of 0.97. PPG Industries, Inc. has a twelve month low of $94.37 and a twelve month high of $121.29.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.17. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS. On average, equities analysts expect that PPG Industries, Inc. will post 6.31 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.92 annualized dividend and a yield of 1.64%. PPG Industries’s dividend payout ratio is presently 32.43%.

Several analysts recently weighed in on the company. Zacks Investment Research cut PPG Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. BMO Capital Markets lifted their price target on PPG Industries from $112.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Barclays lifted their price target on PPG Industries from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Buckingham Research lifted their price target on PPG Industries from $108.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, Deutsche Bank lifted their price target on PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $117.89.

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PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

Further Reading: What is a Reverse Stock Split?

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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