PPG Industries, Inc. (NYSE:PPG) Shares Sold by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,427 shares of the specialty chemicals company’s stock after selling 206 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in PPG Industries were worth $2,440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisor OS LLC purchased a new position in PPG Industries in the fourth quarter valued at approximately $615,000. Illinois Municipal Retirement Fund lifted its holdings in shares of PPG Industries by 10.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 56,505 shares of the specialty chemicals company’s stock valued at $6,750,000 after purchasing an additional 5,422 shares during the last quarter. Vaughan David Investments LLC IL grew its position in shares of PPG Industries by 2.9% during the fourth quarter. Vaughan David Investments LLC IL now owns 288,371 shares of the specialty chemicals company’s stock worth $34,446,000 after acquiring an additional 8,242 shares during the last quarter. FourThought Financial Partners LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at $458,000. Finally, Impax Asset Management Group plc raised its position in PPG Industries by 7.0% in the 4th quarter. Impax Asset Management Group plc now owns 254,358 shares of the specialty chemicals company’s stock valued at $30,383,000 after purchasing an additional 16,567 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on PPG shares. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Wells Fargo & Company cut their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada lowered their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Finally, Citigroup dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $138.15.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 completion of the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is currently owned by company insiders.

PPG Industries Stock Performance

Shares of PPG opened at $114.29 on Wednesday. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60. The stock has a market cap of $25.94 billion, a P/E ratio of 24.16, a PEG ratio of 2.19 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average of $117.96 and a two-hundred day moving average of $123.21.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal 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 paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

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.