Mitchell & Pahl Private Wealth LLC decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,817 shares of the specialty chemicals company’s stock after selling 357 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in PPG Industries were worth $934,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PFW Advisors LLC bought a new stake in PPG Industries during the 4th quarter valued at approximately $868,000. Equity Investment Corp lifted its stake in shares of PPG Industries by 7.0% in the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after purchasing an additional 42,380 shares during the period. Ritholtz Wealth Management bought a new stake in shares of PPG Industries during the third quarter valued at approximately $604,000. JGP Wealth Management LLC purchased a new stake in PPG Industries in the fourth quarter worth $4,050,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
PPG Industries Price Performance
PPG opened at $120.14 on Tuesday. The company’s 50-day simple moving average is $121.26 and its two-hundred day simple moving average is $124.80. PPG Industries, Inc. has a 52-week low of $113.00 and a 52-week high of $145.86. The stock has a market capitalization of $27.87 billion, a P/E ratio of 19.04, a P/E/G ratio of 1.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.
PPG Industries Announces Dividend
Analysts Set New Price Targets
PPG has been the topic of a number of research reports. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.23.
Check Out Our Latest Research Report on PPG Industries
Insider Buying and Selling
In other PPG Industries 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 sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.
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.
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