Blue Bell Private Wealth Management LLC Sells 400 Shares of PPG Industries, Inc. (NYSE:PPG)

Blue Bell Private Wealth Management LLC cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 400 shares of the specialty chemicals company’s stock after selling 400 shares during the quarter. Blue Bell Private Wealth Management LLC’s holdings in PPG Industries were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in PPG Industries in the fourth quarter valued at approximately $82,071,000. State Street Corp grew its stake in PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares in the last quarter. Wellington Management Group LLP grew its stake in PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after purchasing an additional 485,597 shares in the last quarter. FMR LLC grew its stake in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after purchasing an additional 354,740 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in PPG Industries by 65.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock valued at $62,474,000 after purchasing an additional 206,853 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $115.47 on Friday. The stock has a market capitalization of $26.21 billion, a PE ratio of 24.41, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business has a fifty day moving average price of $116.82 and a two-hundred day moving average price of $122.77. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data 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%. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.36%. PPG Industries’s dividend payout ratio is presently 57.51%.

Analysts Set New Price Targets

PPG has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. UBS Group decreased their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Citigroup cut their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and an average target price of $138.15.

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.