Modera Wealth Management LLC Has $1.12 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Modera Wealth Management LLC reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 52.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,368 shares of the specialty chemicals company’s stock after selling 10,333 shares during the period. Modera Wealth Management LLC’s holdings in PPG Industries were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Legend Financial Advisors Inc. acquired a new position in PPG Industries during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of PPG Industries by 465.1% in 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 during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries during the 3rd quarter worth about $34,000. Albion Financial Group UT bought a new position in PPG Industries during the 4th quarter valued at about $38,000. Finally, Hara Capital LLC acquired a new position in PPG Industries in the third quarter valued at about $40,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s 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 directly owns 35,833 shares in the company, valued at approximately $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 hyperlink. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, Mizuho reduced their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries Stock Down 1.3 %

Shares of NYSE PPG opened at $111.72 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $25.36 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. The firm’s 50-day moving average is $117.40 and its 200-day moving average is $123.02. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. Equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.43%. PPG Industries’s dividend payout ratio is presently 57.51%.

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.