Centricity Wealth Management LLC Acquires Shares of 400 PPG Industries, Inc. (NYSE:PPG)

Centricity Wealth Management LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 400 shares of the specialty chemicals company’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Insight Folios Inc boosted its stake in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after buying an additional 81 shares in the last quarter. Alpha DNA Investment Management LLC boosted its stake in shares of PPG Industries by 1.1% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after purchasing an additional 92 shares in the last quarter. Mutual Advisors LLC grew its holdings in shares of PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment increased its position in PPG Industries by 1.2% during the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after purchasing an additional 93 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PPG shares. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reduced their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Finally, Barclays dropped their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Trading Down 2.6 %

PPG opened at $114.88 on Friday. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. The company has a fifty day moving average of $118.29 and a 200-day moving average of $123.22. The stock has a market cap of $26.65 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23. 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 issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. PPG Industries’s dividend payout ratio is currently 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.