Spire Wealth Management Sells 10,732 Shares of PPG Industries, Inc. (NYSE:PPG)

Spire Wealth Management decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 71.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,226 shares of the specialty chemicals company’s stock after selling 10,732 shares during the period. Spire Wealth Management’s holdings in PPG Industries were worth $505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PPG. PFW Advisors LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at $868,000. Equity Investment Corp lifted its position in PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after acquiring an additional 42,380 shares during the period. Ritholtz Wealth Management bought a new stake in PPG Industries during the third quarter worth about $604,000. JGP Wealth Management LLC purchased a new stake in PPG Industries in the fourth quarter worth about $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 1.2 %

PPG opened at $112.61 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock’s 50 day moving average price is $120.59 and its 200-day moving average price is $124.07. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 1.99 and a beta of 1.23.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities analysts forecast that PPG Industries, Inc. will post 7.9 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.42%. PPG Industries’s payout ratio is 57.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PPG shares. Deutsche Bank Aktiengesellschaft dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. UBS Group lowered their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.92.

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.