Kingsview Wealth Management LLC Increases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Kingsview Wealth Management LLC increased its stake in PPG Industries, Inc. (NYSE:PPG) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,185 shares of the specialty chemicals company’s stock after acquiring an additional 107 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PPG Industries were worth $1,084,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PPG. Price T Rowe Associates Inc. MD raised its position in shares of PPG Industries by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 474,053 shares of the specialty chemicals company’s stock worth $68,692,000 after purchasing an additional 3,448 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of PPG Industries by 0.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 27,878 shares of the specialty chemicals company’s stock valued at $4,040,000 after acquiring an additional 171 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of PPG Industries by 29.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,054 shares of the specialty chemicals company’s stock valued at $732,000 after acquiring an additional 1,158 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of PPG Industries by 3.8% in the first quarter. California State Teachers Retirement System now owns 427,262 shares of the specialty chemicals company’s stock worth $61,910,000 after acquiring an additional 15,701 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of PPG Industries by 145.0% during the first quarter. Tidal Investments LLC now owns 23,584 shares of the specialty chemicals company’s stock worth $3,417,000 after purchasing an additional 13,959 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Mizuho lowered their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Royal Bank of Canada dropped their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Price Performance

NYSE:PPG opened at $123.37 on Wednesday. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The stock’s fifty day moving average is $126.88 and its two-hundred day moving average is $127.25. The company has a market capitalization of $28.62 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.88 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

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.