PPG Industries, Inc. (NYSE:PPG) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,760 shares of the specialty chemicals company’s stock after selling 1,646 shares during the period. TD Private Client Wealth LLC’s holdings in PPG Industries were worth $569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HUB Investment Partners LLC acquired a new position in PPG Industries during the 4th quarter valued at about $395,000. iA Global Asset Management Inc. grew its stake in shares of PPG Industries by 16.3% during the fourth quarter. iA Global Asset Management Inc. now owns 12,947 shares of the specialty chemicals company’s stock worth $1,547,000 after acquiring an additional 1,810 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of PPG Industries by 3.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 100,283 shares of the specialty chemicals company’s stock valued at $11,979,000 after acquiring an additional 2,988 shares in the last quarter. Generali Investments Management Co LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $500,000. Finally, West Tower Group LLC boosted its stake in PPG Industries by 61.9% in the 4th quarter. West Tower Group LLC now owns 3,400 shares of the specialty chemicals company’s stock worth $406,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PPG. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. UBS Group dropped their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group decreased their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Finally, Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $138.15.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

PPG Industries Stock Up 2.1 %

PPG stock opened at $113.07 on Tuesday. The stock has a market capitalization of $25.66 billion, a P/E ratio of 23.90, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61. The firm has a 50-day simple moving average of $116.06 and a 200-day simple moving average of $121.61. 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 (NYSE:PPG) last announced its 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%. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

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.