Cambridge Trust Co. Cuts Holdings in PPG Industries, Inc. (NYSE:PPG)

Cambridge Trust Co. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,821 shares of the specialty chemicals company’s stock after selling 273 shares during the quarter. Cambridge Trust Co.’s holdings in PPG Industries were worth $1,020,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PPG. OFI Invest Asset Management bought a new position in PPG Industries during the third quarter valued at $25,000. Valued Wealth Advisors LLC bought a new position in shares of PPG Industries in the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. grew its position in PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares in the last quarter. CVA Family Office LLC bought a new stake in PPG Industries during the fourth quarter worth approximately $28,000. Finally, Harbour Investments Inc. raised its position in PPG Industries by 84.9% during the first quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 101 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Up 0.2 %

NYSE PPG opened at $135.40 on Friday. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The company has a market capitalization of $31.87 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The company’s 50-day simple moving average is $140.53 and its two-hundred day simple moving average is $138.87.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.82 earnings per share. Equities analysts forecast that PPG Industries, Inc. will post 8.46 EPS for the current fiscal year.

Insider Buying and Selling at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PPG. Barclays cut PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $163.00 to $149.00 in a report on Tuesday, February 27th. Royal Bank of Canada cut their price objective on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research report on Monday, January 22nd. Wolfe Research initiated coverage on PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $163.00 in a research report on Thursday, April 11th. Finally, UBS Group decreased their target price on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.00.

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.