Fragasso Financial Advisors Inc Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Fragasso Financial Advisors Inc lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 8.5% in the 4th quarter, according to its most recent 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Czech National Bank increased its position in shares of PPG Industries by 5.8% in the 4th quarter. Czech National Bank now owns 50,303 shares of the specialty chemicals company’s stock worth $6,009,000 after purchasing an additional 2,778 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of PPG Industries by 1.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 62,296 shares of the specialty chemicals company’s stock valued at $8,252,000 after buying an additional 1,037 shares during the period. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at about $27,000. Nordea Investment Management AB boosted its holdings in shares of PPG Industries by 3.7% in the 4th quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company’s stock valued at $2,328,000 after buying an additional 687 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of PPG Industries by 8.9% in the 4th quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company’s stock valued at $731,000 after buying an additional 498 shares during the period. Institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by insiders.

PPG Industries Price Performance

Shares of NYSE:PPG traded up $1.58 during midday 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’s 50 day simple moving average is $122.03 and its two-hundred day simple moving average is $125.05. The firm has a market capitalization of $26.62 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. PPG Industries, Inc. has a 12 month low of $113.00 and a 12 month high of $145.86. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last released 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). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business 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 business posted $2.07 earnings per share. PPG Industries’s revenue was down 1.5% on a year-over-year basis. Equities research analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Citigroup reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Mizuho reduced their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Seven investment 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.29.

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.