PPG Industries, Inc. (NYSE:PPG) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 8.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,756 shares of the specialty chemicals company’s stock after selling 1,188 shares during the period. Fragasso Financial Advisors Inc’s holdings in PPG Industries were worth $1,524,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Equity Investment Corp increased 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 in the last quarter. Ritholtz Wealth Management purchased a new position in shares of PPG Industries in the 3rd quarter valued at about $604,000. Charles Schwab Investment Management Inc. increased its stake 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 valued at $340,654,000 after purchasing an additional 15,161 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of PPG Industries by 10.0% in the 3rd quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company’s stock valued at $4,824,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of PPG Industries in the 3rd quarter valued at about $617,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PPG shares. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Citigroup lowered their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.29.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is owned by company insiders.

PPG Industries Price Performance

Shares of PPG traded up $1.58 during mid-day trading on Monday, reaching $114.76. 727,999 shares of the company’s stock were exchanged, compared to its average volume of 1,887,718. 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 50-day simple moving average of $122.03 and a two-hundred day simple moving average of $125.05. PPG Industries, Inc. has a 52-week low of $113.00 and a 52-week high of $145.86. The company has a market cap of $26.62 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $2.07 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

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.