PPG Industries, Inc. (NYSE:PPG) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lowered its position in PPG Industries, Inc. (NYSE:PPG) by 58.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,186 shares of the specialty chemicals company’s stock after selling 4,403 shares during the quarter. Confluence Wealth Services Inc.’s holdings in PPG Industries were worth $393,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries during the 4th quarter worth $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries during the 3rd quarter worth approximately $34,000. Albion Financial Group UT acquired a new stake in PPG Industries in the 4th quarter valued at approximately $38,000. Finally, Hara Capital LLC acquired a new position in PPG Industries during the third quarter worth $40,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PPG shares. Citigroup dropped their price objective 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. Mizuho decreased their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday. UBS Group cut their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.92.

PPG Industries Trading Up 1.2 %

Shares of PPG Industries stock opened at $112.61 on Thursday. 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 $26.13 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.99 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 fifty day simple moving average of $120.59 and a 200-day simple moving average of $124.07.

PPG Industries (NYSE:PPG) last posted its 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%. On average, equities analysts forecast that PPG Industries, Inc. will post 7.9 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.42%. PPG Industries’s dividend payout ratio (DPR) is presently 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.