PPG Industries, Inc. (NYSE:PPG) Shares Sold by Sienna Gestion

Sienna Gestion reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 94.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,331 shares of the specialty chemicals company’s stock after selling 76,792 shares during the period. Sienna Gestion’s holdings in PPG Industries were worth $517,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. lifted its position in shares of 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 worth $32,000 after purchasing an additional 200 shares in the last quarter. Albion Financial Group UT purchased a new stake in PPG Industries during the 4th quarter worth $38,000. Crews Bank & Trust acquired a new stake in shares of PPG Industries during the fourth quarter valued at about $42,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of PPG Industries during the fourth quarter worth about $44,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The stock was 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 $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 through this link. 0.55% of the stock is currently owned by insiders.

PPG Industries Stock Performance

Shares of PPG stock opened at $111.44 on Friday. The business has a 50 day simple moving average of $116.37 and a 200 day simple moving average of $122.43. 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 firm has a market capitalization of $25.29 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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%. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.44%. PPG Industries’s payout ratio is 57.51%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PPG. Citigroup lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. The Goldman Sachs Group decreased their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. UBS Group cut their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PPG Industries presently has an average rating of “Hold” and an average target price of $138.15.

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.