Strategy Asset Managers LLC Has $211,000 Position in PPG Industries, Inc. (NYSE:PPG)

Strategy Asset Managers LLC reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 4.6% in the 1st quarter, Holdings Channel reports. The firm owned 1,404 shares of the specialty chemicals company’s stock after selling 68 shares during the period. Strategy Asset Managers LLC’s holdings in PPG Industries were worth $211,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bogart Wealth LLC acquired a new position in shares of PPG Industries during the first quarter worth approximately $25,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $31,000. Vantage Consulting Group Inc acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $32,000. Childress Capital Advisors LLC acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $32,000. Finally, Blume Capital Management Inc. acquired a new position in shares of PPG Industries during the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Shares of PPG stock opened at $177.39 on Friday. The business’s fifty day simple moving average is $171.68. The company has a quick ratio of 1.06, a current ratio of 1.43 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $42.06 billion, a PE ratio of 35.41, a PEG ratio of 1.21 and a beta of 1.14. PPG Industries, Inc. has a 52 week low of $98.41 and a 52 week high of $182.97.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, April 14th. The specialty chemicals company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.57 by $0.31. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.68 billion. PPG Industries had a return on equity of 27.47% and a net margin of 8.33%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Equities research analysts forecast that PPG Industries, Inc. will post 8.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 11th. Stockholders of record on Monday, May 10th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, May 7th. PPG Industries’s payout ratio is presently 37.89%.

In other news, EVP Timothy M. Knavish sold 22,851 shares of the company’s stock in a transaction on Monday, May 24th. The stock was sold at an average price of $178.78, for a total transaction of $4,085,301.78. Following the transaction, the executive vice president now owns 27,772 shares of the company’s stock, valued at $4,965,078.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vadlamannati Ramaprasad sold 20,956 shares of the company’s stock in a transaction on Tuesday, April 20th. The shares were sold at an average price of $168.84, for a total value of $3,538,211.04. Following the transaction, the senior vice president now directly owns 28,192 shares in the company, valued at approximately $4,759,937.28. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on PPG shares. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating and set a $177.00 price target for the company in a report on Tuesday, April 20th. Deutsche Bank Aktiengesellschaft upped their price target on PPG Industries from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, May 21st. Royal Bank of Canada boosted their price objective on PPG Industries from $180.00 to $193.00 and gave the company an “outperform” rating in a research report on Friday, May 14th. Morgan Stanley boosted their price objective on PPG Industries from $147.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, April 26th. Finally, The Goldman Sachs Group boosted their price objective on PPG Industries from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, May 11th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $169.29.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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