Baker Tilly Wealth Management LLC Trims Position in PPG Industries, Inc. (NYSE:PPG)

Baker Tilly Wealth Management LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,526 shares of the specialty chemicals company’s stock after selling 130 shares during the period. Baker Tilly Wealth Management LLC’s holdings in PPG Industries were worth $302,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries during the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in PPG Industries during the third quarter worth approximately $34,000. Hara Capital LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of PPG Industries during the 3rd quarter valued at $46,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 2.1 %

Shares of NYSE PPG opened at $113.30 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 1 year low of $113.14 and a 1 year high of $147.76. The stock’s 50-day simple moving average is $122.03 and its 200-day simple moving average is $125.05. The firm has a market cap of $26.29 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.07 earnings per share. As a group, equities analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Citigroup cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.29.

PPG Industries Company 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.