Oppenheimer & Co. Inc. Sells 817 Shares of PPG Industries, Inc. (NYSE:PPG)

Oppenheimer & Co. Inc. decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,136 shares of the specialty chemicals company’s stock after selling 817 shares during the period. Oppenheimer & Co. Inc.’s holdings in PPG Industries were worth $3,958,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. bought a new position in PPG Industries in the fourth quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. lifted its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in PPG Industries during the third quarter valued at about $34,000. Albion Financial Group UT purchased a new stake in PPG Industries in the fourth quarter worth about $38,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries in the third quarter worth about $40,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

PPG Industries stock opened at $112.99 on Friday. The company’s 50-day moving average price is $117.57 and its 200-day moving average price is $123.07. 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 market cap of $25.64 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.41%. PPG Industries’s dividend payout ratio is presently 57.51%.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated 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 owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PPG shares. Wells Fargo & Company cut their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.15.

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.