Wealthcare Advisory Partners LLC Sells 217 Shares of PPG Industries, Inc. (NYSE:PPG)

Wealthcare Advisory Partners LLC cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,194 shares of the specialty chemicals company’s stock after selling 217 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in PPG Industries were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after buying an additional 756,937 shares in the last quarter. Wellington Management Group LLP lifted its position in PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after buying an additional 1,590,041 shares in the last quarter. Geode Capital Management LLC lifted its position in PPG Industries by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company’s stock worth $660,752,000 after buying an additional 93,455 shares in the last quarter. Invesco Ltd. lifted its position in PPG Industries by 6.1% during the 4th quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company’s stock worth $564,596,000 after buying an additional 271,699 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock worth $518,132,000 after buying an additional 3,592,655 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 12th. Wells Fargo & Company upped their target price on shares of PPG Industries from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. UBS Group upped their target price on shares of PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Finally, Citigroup upped their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $129.83.

PPG Industries Stock Down 5.2%

Shares of PPG opened at $106.25 on Friday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The firm has a market cap of $24.12 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. The firm’s 50-day simple moving average is $107.69 and its 200 day simple moving average is $113.50. 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 (NYSE:PPG) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business earned $1.87 EPS. PPG Industries’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a dividend of $0.68 per share. The ex-dividend date was Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.56%. PPG Industries’s dividend payout ratio is presently 58.24%.

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.