Sequoia Financial Advisors LLC Has $375,000 Position in PPG Industries Inc. (PPG)
Sequoia Financial Advisors LLC cut its stake in shares of PPG Industries Inc. (NYSE:PPG) by 3.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,596 shares of the company’s stock after selling 125 shares during the period. Sequoia Financial Advisors LLC’s holdings in PPG Industries were worth $375,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in PPG. Meeder Asset Management Inc. bought a new position in PPG Industries during the first quarter valued at $144,000. Invictus RG acquired a new stake in PPG Industries during the first quarter worth approximately $147,000. Checchi Capital Advisers LLC raised its stake in PPG Industries by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,944 shares of the company’s stock worth $202,000 after buying an additional 59 shares in the last quarter. Concert Wealth Management Inc. raised its stake in PPG Industries by 9.2% in the second quarter. Concert Wealth Management Inc. now owns 1,969 shares of the company’s stock worth $203,000 after buying an additional 166 shares in the last quarter. Finally, Cypress Wealth Advisors LLC acquired a new stake in PPG Industries during the first quarter worth approximately $217,000. 73.01% of the stock is currently owned by hedge funds and other institutional investors.
PPG Industries Inc. (NYSE:PPG) traded up 0.16% during mid-day trading on Tuesday, reaching $92.81. The company had a trading volume of 1,317,470 shares. The company has a market capitalization of $24.71 billion, a price-to-earnings ratio of 17.15 and a beta of 1.47. PPG Industries Inc. has a 12-month low of $88.37 and a 12-month high of $117.00. The stock has a 50-day moving average of $101.25 and a 200 day moving average of $106.21.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 21st. The company reported $1.85 EPS for the quarter, hitting the consensus estimate of $1.85. The firm earned $4.10 billion during the quarter, compared to the consensus estimate of $4.17 billion. PPG Industries had a return on equity of 30.94% and a net margin of 9.57%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.67 earnings per share. On average, analysts expect that PPG Industries Inc. will post $6.17 EPS for the current year.
A number of equities research analysts have recently commented on the company. Zacks Investment Research lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Seaport Global Securities raised PPG Industries from an “accumulate” rating to a “buy” rating and raised their price target for the stock from $125.00 to $130.00 in a research report on Tuesday, July 26th. JPMorgan Chase & Co. set a $110.00 price target on PPG Industries and gave the stock a “buy” rating in a research report on Monday, October 10th. Jefferies Group reissued a “buy” rating and issued a $129.00 target price (up previously from $127.00) on shares of PPG Industries in a research report on Monday, July 25th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $115.00 target price on shares of PPG Industries in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.46.
In other news, VP Timothy M. Knavish sold 9,300 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.08, for a total value of $967,944.00. Following the completion of the sale, the vice president now directly owns 11,806 shares of the company’s stock, valued at $1,228,768.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total value of $4,366,908.00. Following the completion of the sale, the insider now directly owns 69,044 shares of the company’s stock, valued at $7,362,852.16. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
About PPG Industries
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries Inc. (NYSE:PPG).
Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.