Oppenheimer Asset Management Inc. Cuts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Oppenheimer Asset Management Inc. trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 19.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 68,881 shares of the specialty chemicals company’s stock after selling 16,681 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PPG Industries were worth $8,228,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PPG. Alpha DNA Investment Management LLC boosted its stake in shares of PPG Industries by 1.1% in the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after purchasing an additional 92 shares during the period. Mutual Advisors LLC increased its stake in PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after buying an additional 92 shares during the period. Groupama Asset Managment lifted its holdings in PPG Industries by 1.2% during the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after buying an additional 93 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after buying an additional 95 shares during the period. Finally, Kingsview Wealth Management LLC grew its stake in shares of PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock worth $990,000 after acquiring an additional 103 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group decreased their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft cut 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 Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Stock Down 1.1 %

Shares of NYSE:PPG opened at $113.80 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 company has a market capitalization of $25.83 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The stock’s fifty day simple moving average is $117.72 and its 200-day simple moving average is $123.09.

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

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

About PPG Industries

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.