SlateStone Wealth LLC Has $1.81 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

SlateStone Wealth LLC raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,185 shares of the specialty chemicals company’s stock after buying an additional 225 shares during the quarter. SlateStone Wealth LLC’s holdings in PPG Industries were worth $1,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of 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. Albion Financial Group UT acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $38,000. Crews Bank & Trust acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PPG. Royal Bank of Canada decreased their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Citigroup decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $138.15.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Trading Up 2.1 %

Shares of PPG opened at $113.65 on Friday. The stock has a fifty day moving average price of $116.36 and a two-hundred day moving average price of $122.30. 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 52-week low of $109.15 and a 52-week high of $145.61. The company has a market cap of $25.80 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. PPG Industries’s payout ratio is currently 57.51%.

PPG Industries 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.