Mitchell Mcleod Pugh & Williams Inc. Reduces Stake in PPG Industries, Inc. (NYSE:PPG)

Mitchell Mcleod Pugh & Williams Inc. lowered its position in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 16.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,309 shares of the specialty chemicals company’s stock after selling 859 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in PPG Industries were worth $515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. Mercer Global Advisors Inc. ADV boosted its position in PPG Industries by 5.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 21,987 shares of the specialty chemicals company’s stock valued at $2,954,000 after buying an additional 1,105 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in PPG Industries by 24.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 15,048 shares of the specialty chemicals company’s stock valued at $1,895,000 after purchasing an additional 2,982 shares during the last quarter. AE Wealth Management LLC boosted its stake in shares of PPG Industries by 60.8% during the second quarter. AE Wealth Management LLC now owns 2,880 shares of the specialty chemicals company’s stock worth $363,000 after buying an additional 1,089 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in shares of PPG Industries by 8.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 50,164 shares of the specialty chemicals company’s stock valued at $6,315,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in PPG Industries by 0.5% during the second quarter. Sei Investments Co. now owns 61,957 shares of the specialty chemicals company’s stock worth $7,800,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

PPG Industries Trading Up 0.5 %

Shares of PPG stock opened at $120.14 on Tuesday. 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 company has a market capitalization of $27.87 billion, a P/E ratio of 19.04, a P/E/G ratio of 1.77 and a beta of 1.24. PPG Industries, Inc. has a 12-month low of $113.00 and a 12-month high of $145.86. The firm has a 50-day moving average price of $121.26 and a 200 day moving average price of $124.80.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PPG shares. Deutsche Bank Aktiengesellschaft dropped their price target 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. JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Citigroup lowered their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

Check Out Our Latest Stock Report on PPG Industries

About PPG Industries

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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