Corient Private Wealth LLC Sells 12,720 Shares of PPG Industries, Inc. (NYSE:PPG)

Corient Private Wealth LLC lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,974 shares of the specialty chemicals company’s stock after selling 12,720 shares during the period. Corient Private Wealth LLC’s holdings in PPG Industries were worth $8,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PPG. PUREfi Wealth LLC bought a new stake in PPG Industries in the 4th quarter valued at $279,000. PFW Advisors LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $868,000. JGP Wealth Management LLC bought a new stake in shares of PPG Industries in the fourth quarter valued at about $4,050,000. Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 0.6% in 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 acquiring an additional 15,161 shares in the last quarter. Finally, Avanza Fonder AB bought a new position in PPG Industries during the fourth quarter worth about $2,944,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $111.29 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market cap of $25.26 billion, a PE ratio of 23.53, a PEG ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61. The business has a 50-day simple moving average of $116.15 and a two-hundred day simple moving average of $121.91.

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 analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.44%. PPG Industries’s dividend payout ratio is 57.51%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Mizuho reduced their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $138.15.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was 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. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

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.