Mitchell & Pahl Private Wealth LLC Lowers Stock Position in PPG Industries, Inc. (NYSE:PPG)

Mitchell & Pahl Private Wealth LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,174 shares of the specialty chemicals company’s stock after selling 162 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in PPG Industries were worth $1,083,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the second quarter worth about $25,000. Riverview Trust Co purchased a new position in shares of PPG Industries in the 1st quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries in the second quarter valued at approximately $37,000. LRI Investments LLC purchased a new stake in shares of PPG Industries during the first quarter worth approximately $53,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in shares of PPG Industries by 103.6% during the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on PPG shares. UBS Group upped their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. KeyCorp reduced their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets dropped their target price on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Barclays reduced their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Finally, Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.00.

PPG Industries Price Performance

NYSE:PPG traded down $0.67 during mid-day trading on Thursday, hitting $129.69. 815,278 shares of the company’s stock traded hands, compared to its average volume of 1,592,330. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The company has a market cap of $30.41 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The firm’s 50 day simple moving average is $126.73 and its 200 day simple moving average is $129.26. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Sell-side analysts expect that PPG Industries, Inc. will post 8.24 EPS for the current year.

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.