PPG Industries Inc. (PPG)

Meridian Wealth Management LLC Decreases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Meridian Wealth Management LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG – Free Report) by 52.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,198 shares of the specialty chemicals company’s stock after selling 2,452 shares during the period. Meridian Wealth Management LLC’s holdings in PPG Industries were worth $329,000 at the end of the most recent quarter. A number of other hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its position in PPG Industries by 47.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,777 shares of the specialty chemicals company’s stock worth $2,567,000 after buying an additional 6,352 shares during the last quarter. Allworth Financial LP grew its holdings in PPG Industries by 76.6% during the 3rd quarter. Allworth Financial LP now owns 696 shares of the specialty chemicals company’s stock valued at $90,000 after purchasing an additional 302 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of PPG Industries by 13.1% during the third 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 period. Venturi Wealth Management LLC raised its holdings in shares of PPG Industries by 5.4% in the third 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 during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of PPG Industries by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 702,314 shares of the specialty chemicals company’s stock worth $91,160,000 after acquiring an additional 7,545 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock. PPG Industries Stock Down 0.3 % NYSE PPG opened at $134.44 on Monday. The business has a fifty day moving average price of $136.98 and a 200 day moving average price of $139.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. The company has a market cap of $31.53 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.67 and a beta of 1.30. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting the consensus estimate of $1.86. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.82 earnings per share. Research analysts anticipate that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year. PPG Industries declared that its Board of Directors has initiated a share repurchase program on Thursday, April 18th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued. PPG Industries Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio is presently 43.92%. Insider Buying and Selling In related news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Timothy M. Knavish acquired 2,061 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The shares were 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 owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders. Analyst Upgrades and Downgrades A number of equities research analysts recently weighed in on the stock. Evercore ISI lowered 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. Bank of America dropped their price target on PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Citigroup lowered their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Wolfe Research started coverage on shares of PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.47. Get Our Latest Stock Analysis on PPG Industries 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.