400 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by Centricity Wealth Management LLC

Centricity Wealth Management LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, Holdings Channel reports. The firm purchased 400 shares of the specialty chemicals company’s stock, valued at approximately $48,000.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of PPG Industries by 15.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock worth $2,030,000 after acquiring an additional 2,047 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of PPG Industries by 6.9% in the third quarter. Private Advisor Group LLC now owns 12,123 shares of the specialty chemicals company’s stock worth $1,606,000 after purchasing an additional 781 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of PPG Industries by 33.5% in the third quarter. Greenleaf Trust now owns 6,787 shares of the specialty chemicals company’s stock valued at $899,000 after purchasing an additional 1,704 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of PPG Industries by 189.6% during the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after buying an additional 279,455 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in PPG Industries by 37.7% during the third quarter. IFM Investors Pty Ltd now owns 71,945 shares of the specialty chemicals company’s stock worth $9,530,000 after buying an additional 19,698 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PPG shares. Citigroup cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Mizuho decreased their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, UBS Group decreased their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.15.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.55% of the stock is owned by corporate insiders.

PPG Industries Price Performance

PPG opened at $114.88 on Friday. The firm has a 50-day moving average price of $118.29 and a 200-day moving average price of $123.22. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. 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 capitalization of $26.65 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 2.17 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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 net margin of 6.41% and a return on equity of 23.78%. Equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

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.