Kestra Investment Management LLC Sells 378 Shares of PPG Industries, Inc. (NYSE:PPG)

Kestra Investment Management LLC decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,305 shares of the specialty chemicals company’s stock after selling 378 shares during the quarter. Kestra Investment Management LLC’s holdings in PPG Industries were worth $275,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PPG. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries during the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. raised its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in PPG Industries during the third quarter worth $34,000. Albion Financial Group UT acquired a new stake in shares of PPG Industries in the 4th quarter valued at $38,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries in the 3rd quarter valued at $40,000. 81.86% of the stock is currently 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 value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company’s stock.

PPG Industries Trading Down 2.0 %

NYSE PPG opened at $116.82 on Thursday. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. 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 $27.10 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. The business’s 50-day moving average price is $118.60 and its two-hundred day moving average price is $123.29.

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

PPG Industries Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 2.33%. PPG Industries’s payout ratio is 57.51%.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. UBS Group dropped their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Citigroup decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

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.