PPG Industries, Inc. (NYSE:PPG) Holdings Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,995 shares of the specialty chemicals company’s stock after buying an additional 738 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in PPG Industries were worth $716,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. purchased a new stake in shares of PPG Industries during the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. lifted its stake in PPG Industries by 465.1% in the 3rd 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. Albion Financial Group UT purchased a new stake in PPG Industries in the 4th quarter worth about $38,000. Crews Bank & Trust purchased a new stake in PPG Industries in the 4th quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in PPG Industries in the 4th quarter worth about $44,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

PPG opened at $113.65 on Monday. The firm has a market capitalization of $25.80 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The stock’s 50 day moving average price is $116.36 and its two-hundred day moving average price is $122.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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 analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred 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 approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

PPG has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Hold” and a consensus price target 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.