First Trust Advisors LP Sells 107,293 Shares of PPG Industries, Inc. (NYSE:PPG)

First Trust Advisors LP lessened its holdings in PPG Industries, Inc. (NYSE:PPGFree Report) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 507,488 shares of the specialty chemicals company’s stock after selling 107,293 shares during the quarter. First Trust Advisors LP owned 0.22% of PPG Industries worth $75,895,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Valued Wealth Advisors LLC bought a new stake in shares of PPG Industries in the fourth quarter worth $26,000. SJS Investment Consulting Inc. raised its position in PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in PPG Industries during the fourth quarter worth $27,000. CVA Family Office LLC bought a new stake in PPG Industries during the fourth quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in PPG Industries during the fourth quarter worth $29,000. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

PPG has been the topic of several research reports. UBS Group decreased their price objective on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. StockNews.com upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Wolfe Research initiated coverage on shares of PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Seaport Res Ptn upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd. Finally, Bank of America decreased their price objective on shares of PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.47.

View Our Latest Report on PPG Industries

PPG Industries Trading Up 1.2 %

PPG opened at $133.21 on Thursday. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a 50-day simple moving average of $134.39 and a 200 day simple moving average of $139.91. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $31.24 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 1.63 and a beta of 1.28.

PPG Industries (NYSE:PPGGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a $0.65 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.95%. PPG Industries’s dividend payout ratio (DPR) is currently 43.92%.

PPG Industries declared that its board has approved a share repurchase program on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish bought 2,061 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the acquisition, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Profile

(Free Report)

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.

See Also

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

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