PPG Industries, Inc. (NYSE:PPG) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,882 shares of the specialty chemicals company’s stock after selling 256 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in PPG Industries were worth $1,927,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PPG. FMR LLC increased its stake in PPG Industries by 11.0% in the third quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock valued at $46,512,000 after purchasing an additional 35,571 shares during the period. Nomura Holdings Inc. raised its stake in PPG Industries by 2.3% during the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock valued at $1,101,000 after acquiring an additional 192 shares during the last quarter. Financial Counselors Inc. lifted its position in PPG Industries by 6.4% during the 3rd quarter. Financial Counselors Inc. now owns 1,883 shares of the specialty chemicals company’s stock worth $244,000 after acquiring an additional 114 shares during the period. Vest Financial LLC increased its holdings in shares of PPG Industries by 42.6% in the fourth quarter. Vest Financial LLC now owns 217,865 shares of the specialty chemicals company’s stock valued at $32,582,000 after purchasing an additional 65,073 shares during the period. Finally, Trust Point Inc. purchased a new stake in shares of PPG Industries during the fourth quarter worth approximately $1,145,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PPG. Barclays cut shares of PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $163.00 to $149.00 in a research note on Tuesday, February 27th. Citigroup reduced their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down previously from $173.00) on shares of PPG Industries in a research note on Thursday, March 7th. Finally, Wolfe Research began coverage on shares of PPG Industries in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.40.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $135.02 on Tuesday. The firm has a market capitalization of $31.78 billion, a PE ratio of 25.28, a P/E/G ratio of 1.61 and a beta of 1.28. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $152.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05. The business has a 50-day moving average of $140.82 and a two-hundred day moving average of $138.90.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.04. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the company posted $1.22 earnings per share. PPG Industries’s revenue was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that PPG Industries, Inc. will post 8.46 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, February 15th. PPG Industries’s dividend payout ratio is presently 48.69%.

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.