Dakota Wealth Management Trims Stake in PPG Industries, Inc. (NYSE:PPG)

Dakota Wealth Management cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,936 shares of the specialty chemicals company’s stock after selling 220 shares during the period. Dakota Wealth Management’s holdings in PPG Industries were worth $351,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Insight Folios Inc boosted its holdings in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after acquiring an additional 81 shares in the last quarter. Alpha DNA Investment Management LLC raised its position in shares of PPG Industries by 1.1% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment boosted its stake in PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after purchasing an additional 93 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 95 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in PPG Industries by 1.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 8,185 shares of the specialty chemicals company’s stock valued at $1,084,000 after purchasing an additional 107 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

PPG Industries stock opened at $122.75 on Friday. The stock has a market capitalization of $28.48 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.93 and a beta of 1.24. The company’s fifty day moving average price is $121.17 and its 200 day moving average price is $124.70. 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, Inc. has a 1 year low of $113.00 and a 1 year high of $145.60.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio is currently 43.11%.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

PPG has been the subject of a number of research analyst reports. Mizuho reduced their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Royal Bank of Canada dropped their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.23.

PPG Industries Company 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.