Cetera Investment Advisers Cuts Holdings in PPG Industries, Inc. (NYSE:PPG)

Cetera Investment Advisers decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 20.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,486 shares of the specialty chemicals company’s stock after selling 8,685 shares during the quarter. Cetera Investment Advisers’ holdings in PPG Industries were worth $4,119,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PPG. Norges Bank purchased a new stake in PPG Industries during the 4th quarter worth about $470,535,000. Kovitz Investment Group Partners LLC increased its holdings in PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock worth $518,132,000 after purchasing an additional 3,592,655 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in PPG Industries by 815.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock worth $362,074,000 after purchasing an additional 2,700,018 shares during the period. First Eagle Investment Management LLC increased its holdings in PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after purchasing an additional 1,858,895 shares during the period. Finally, Wellington Management Group LLP increased its holdings in PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after purchasing an additional 1,590,041 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 transaction, the chief executive officer now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PPG shares. Fermium Researc upgraded PPG Industries to a “strong-buy” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. UBS Group increased their price objective on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. The Goldman Sachs Group dropped their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Bank of America reiterated a “neutral” rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $128.42.

PPG Industries Trading Down 1.6%

NYSE:PPG opened at $111.56 on Thursday. The stock’s 50 day moving average price is $106.46 and its 200 day moving average price is $115.39. The company has a market capitalization of $25.32 billion, a PE ratio of 23.59, a P/E/G ratio of 2.19 and a beta of 1.20. 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 52-week low of $90.24 and a 52-week high of $137.24.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the business posted $1.87 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.44%. PPG Industries’s dividend payout ratio (DPR) is currently 58.24%.

About PPG Industries

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.