SVB Wealth LLC Boosts Stock Position in PPG Industries, Inc. (NYSE:PPG)

SVB Wealth LLC raised its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 39,966 shares of the specialty chemicals company’s stock after acquiring an additional 414 shares during the quarter. SVB Wealth LLC’s holdings in PPG Industries were worth $5,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC raised its stake in shares of PPG Industries by 163,082.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after buying an additional 4,155,341 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of PPG Industries by 602,706.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company’s stock worth $331,994,000 after buying an additional 2,639,853 shares in the last quarter. Norges Bank purchased a new position in shares of PPG Industries during the 4th quarter worth approximately $318,155,000. First Trust Advisors LP raised its stake in shares of PPG Industries by 280.6% during the 1st quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock worth $227,393,000 after buying an additional 1,279,104 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of PPG Industries by 41.1% during the 3rd quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after buying an additional 959,849 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PPG shares. KeyCorp cut their target price on PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Redburn Atlantic downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. Royal Bank of Canada dropped their price objective on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a research note on Monday, January 22nd. Barclays cut PPG Industries from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $163.00 to $149.00 in a report on Tuesday, February 27th. Finally, UBS Group reiterated a “neutral” rating and set a $156.00 target price (down previously from $173.00) on shares of PPG Industries in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.40.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Trading Down 1.1 %

NYSE:PPG opened at $133.52 on Wednesday. The business’s 50-day moving average is $140.69 and its two-hundred day moving average is $138.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $152.89. The firm has a market capitalization of $31.43 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.49 by $0.04. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the company posted $1.22 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Research analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 15th. PPG Industries’s payout ratio is 48.69%.

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.