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

SeaCrest Wealth Management LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.4% during the fourth quarter, Holdings Channel reports. The firm owned 3,398 shares of the specialty chemicals company’s stock after selling 120 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in PPG Industries were worth $406,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PPG. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its position in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries during the third quarter valued at approximately $34,000. Hara Capital LLC purchased a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in PPG Industries in the 3rd quarter worth approximately $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PPG. Mizuho reduced their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. 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 research note on Thursday, December 19th. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average target price of $149.29.

PPG Industries Price Performance

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

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 company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company earned $2.07 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that PPG Industries, Inc. will post 8.15 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 yield of 2.28%. PPG Industries’s payout ratio is presently 43.11%.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

About PPG Industries

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.