PPG Industries, Inc. (NYSE:PPG) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,398 shares of the specialty chemicals company’s stock after selling 120 shares during the period. SeaCrest Wealth Management LLC’s holdings in PPG Industries were worth $406,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Insight Folios Inc lifted its position in shares of PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 81 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in PPG Industries by 1.7% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company’s stock valued at $669,000 after buying an additional 90 shares in the last quarter. Alpha DNA Investment Management LLC lifted its holdings in PPG Industries by 1.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock worth $1,105,000 after buying an additional 92 shares during the last quarter. Groupama Asset Managment grew its position in shares of PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after acquiring an additional 93 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in shares of PPG Industries by 1.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 8,185 shares of the specialty chemicals company’s stock valued at $1,084,000 after acquiring an additional 107 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $119.52 on Friday. PPG Industries, Inc. has a 52-week low of $113.00 and a 52-week high of $145.86. The firm has a market capitalization of $27.73 billion, a PE ratio of 18.94, a P/E/G ratio of 1.77 and a beta of 1.24. The firm has a 50-day moving average price of $121.50 and a 200 day moving average price of $124.86. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 EPS. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 8.15 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.28%. PPG Industries’s dividend payout ratio is presently 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.