Independent Advisor Alliance Has $1.26 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Independent Advisor Alliance decreased its holdings in PPG Industries, Inc. (NYSE:PPGFree Report) by 20.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,439 shares of the specialty chemicals company’s stock after selling 2,114 shares during the quarter. Independent Advisor Alliance’s holdings in PPG Industries were worth $1,262,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in PPG Industries by 47.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,777 shares of the specialty chemicals company’s stock valued at $2,567,000 after buying an additional 6,352 shares during the last quarter. Allworth Financial LP grew its position in PPG Industries by 76.6% in the 3rd quarter. Allworth Financial LP now owns 696 shares of the specialty chemicals company’s stock worth $90,000 after purchasing an additional 302 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in PPG Industries by 13.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 21,541 shares of the specialty chemicals company’s stock valued at $2,796,000 after buying an additional 2,494 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of PPG Industries by 5.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,307 shares of the specialty chemicals company’s stock worth $299,000 after buying an additional 119 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of PPG Industries by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 702,314 shares of the specialty chemicals company’s stock worth $91,160,000 after buying an additional 7,545 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PPG shares. Deutsche Bank Aktiengesellschaft dropped their price target on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Evercore ISI downgraded shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective for the company. in a report on Monday, April 22nd. Seaport Res Ptn raised shares of PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday, April 22nd. BMO Capital Markets reduced their target price on shares of PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, April 23rd. Finally, StockNews.com upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.47.

Read Our Latest Research Report on PPG Industries

PPG Industries Stock Performance

PPG Industries stock opened at $134.44 on Monday. PPG Industries, Inc. has a 1-year low of $120.32 and a 1-year high of $152.89. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $31.53 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.67 and a beta of 1.30. The firm’s 50 day simple moving average is $136.98 and its 200 day simple moving average is $139.85.

PPG Industries (NYSE:PPGGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the business posted $1.82 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts expect that PPG Industries, Inc. will post 8.44 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is 43.92%.

PPG Industries declared that its Board of Directors has initiated a share buyback plan on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish acquired 2,061 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $133.24 per share, with a total value of $274,607.64. Following the acquisition, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy M. Knavish acquired 2,061 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost of $133.24 per share, with a total value of $274,607.64. Following the purchase, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,774,388.92. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

PPG Industries Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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