SouthState Corp Sells 405 Shares of PPG Industries, Inc. (NYSE:PPG)

SouthState Corp trimmed its stake in PPG Industries, Inc. (NYSE:PPG) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,485 shares of the specialty chemicals company’s stock after selling 405 shares during the quarter. SouthState Corp’s holdings in PPG Industries were worth $655,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. PUREfi Wealth LLC bought a new position in PPG Industries during the fourth quarter worth about $279,000. PFW Advisors LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at $868,000. Equity Investment Corp increased its stake in PPG Industries by 7.0% in the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after acquiring an additional 42,380 shares during the last quarter. JGP Wealth Management LLC bought a new position in shares of PPG Industries in the fourth quarter worth approximately $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. 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. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft 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 report on Thursday, December 19th. Finally, Mizuho dropped their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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 business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

PPG Industries Trading Up 0.3 %

PPG Industries stock opened at $113.85 on Tuesday. The business’s fifty day moving average is $116.33 and its 200 day moving average is $122.16. PPG Industries, Inc. has a one year low of $109.15 and a one year high of $145.61. The stock has a market capitalization of $25.84 billion, a PE ratio of 24.07, a price-to-earnings-growth 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.

PPG Industries (NYSE:PPG) last released its quarterly earnings results 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 return on equity of 23.78% and a net margin of 6.41%. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

PPG Industries 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.