Avior Wealth Management LLC Lowers Stake in PPG Industries, Inc. (NYSE:PPG)

Avior Wealth Management LLC reduced its position in PPG Industries, Inc. (NYSE:PPG) by 33.4% in the third quarter, HoldingsChannel.com reports. The firm owned 325 shares of the specialty chemicals company’s stock after selling 163 shares during the period. Avior Wealth Management LLC’s holdings in PPG Industries were worth $43,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Connections Group Inc. bought a new position in PPG Industries in the 2nd quarter worth $25,000. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the third quarter valued at about $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries in the second quarter valued at about $37,000. Hara Capital LLC bought a new position in shares of PPG Industries in the third quarter worth about $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of PPG Industries during the third quarter worth about $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PPG shares. Royal Bank of Canada lowered their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Mizuho reduced their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Performance

NYSE:PPG opened at $125.81 on Tuesday. 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 fifty day moving average is $126.97 and its 200 day moving average is $127.34. The firm has a market capitalization of $29.19 billion, a PE ratio of 19.94, a PEG ratio of 1.88 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.16%. PPG Industries’s dividend payout ratio is 43.11%.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

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.