Good Life Advisors LLC Sells 154 Shares of PPG Industries, Inc. (NYSE:PPG)

Good Life Advisors LLC lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,307 shares of the specialty chemicals company’s stock after selling 154 shares during the period. Good Life Advisors LLC’s holdings in PPG Industries were worth $276,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. lifted its stake in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in PPG Industries during the third quarter worth $34,000. Albion Financial Group UT bought a new stake in PPG Industries during the fourth quarter worth $38,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the subject of a number of research reports. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Barclays reduced their target price on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Eight 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 stock has a consensus rating of “Moderate Buy” and a consensus 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 value of $568,080.00. Following the sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Price Performance

Shares of NYSE PPG opened at $114.88 on Friday. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The company has a 50 day simple moving average of $118.29 and a two-hundred day simple moving average of $123.22. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 2.17 and a beta of 1.23. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its quarterly 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 net margin of 6.41% and a return on equity of 23.78%. Analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

PPG Industries 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.