Kestra Investment Management LLC Sells 378 Shares of PPG Industries, Inc. (NYSE:PPG)

Kestra Investment Management LLC lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,305 shares of the specialty chemicals company’s stock after selling 378 shares during the quarter. Kestra Investment Management LLC’s holdings in PPG Industries were worth $275,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries in the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its holdings in PPG Industries by 465.1% during the 3rd 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 in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries in the third quarter worth approximately $34,000. Albion Financial Group UT bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $38,000. Finally, Hara Capital LLC purchased a new position in shares of PPG Industries during the third quarter valued at approximately $40,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Down 2.0 %

Shares of PPG Industries stock opened at $116.82 on Thursday. The stock has a market capitalization of $27.10 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock’s 50-day simple moving average is $118.60 and its 200 day simple moving average is $123.29.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PPG shares. Mizuho dropped their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, Barclays decreased their price target on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.15.

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.