Wealth Alliance Decreases Holdings in PPG Industries, Inc. (NYSE:PPG)

Wealth Alliance cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,791 shares of the specialty chemicals company’s stock after selling 113 shares during the quarter. Wealth Alliance’s holdings in PPG Industries were worth $268,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of PPG Industries during the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC purchased a new stake in PPG Industries in the 4th quarter worth about $26,000. SJS Investment Consulting Inc. increased its holdings in PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares during the last quarter. CVA Family Office LLC purchased a new stake in PPG Industries in the 4th quarter worth about $28,000. Finally, Harbour Investments Inc. increased its holdings in PPG Industries by 84.9% in the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 101 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $135.11 on Friday. The business has a 50 day moving average of $140.53 and a 200 day moving average of $138.87. The company has a market capitalization of $31.80 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.61 and a beta of 1.28. PPG Industries, Inc. has a 1-year low of $120.32 and a 1-year high of $152.89. 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 (NYSE:PPG) last released its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PPG. Royal Bank of Canada decreased their price objective on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a report on Monday, January 22nd. Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Redburn Atlantic downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Thursday, February 1st. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. Finally, Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $163.00 to $149.00 in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.40.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is currently owned by corporate insiders.

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.