Argonautica Private Wealth Management Inc. Lowers Position in PPG Industries, Inc. (NYSE:PPG)

Argonautica Private Wealth Management Inc. reduced its position in PPG Industries, Inc. (NYSE:PPG) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,427 shares of the specialty chemicals company’s stock after selling 206 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in PPG Industries were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of PPG Industries by 15.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock valued at $2,030,000 after purchasing an additional 2,047 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of PPG Industries by 6.9% during the 3rd quarter. Private Advisor Group LLC now owns 12,123 shares of the specialty chemicals company’s stock valued at $1,606,000 after acquiring an additional 781 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in PPG Industries by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,457 shares of the specialty chemicals company’s stock worth $3,291,000 after purchasing an additional 4,212 shares during the period. Frank Rimerman Advisors LLC increased its holdings in PPG Industries by 9.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,826 shares of the specialty chemicals company’s stock valued at $242,000 after purchasing an additional 152 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of PPG Industries by 6.0% during the third quarter. J.W. Cole Advisors Inc. now owns 12,308 shares of the specialty chemicals company’s stock worth $1,630,000 after purchasing an additional 701 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PPG. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, Citigroup reduced their price objective 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.15.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

PPG Industries Stock Up 0.7 %

Shares of PPG Industries stock opened at $114.29 on Wednesday. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 2.19 and a beta of 1.23. 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 business’s 50 day simple moving average is $117.96 and its 200-day simple moving average is $123.21.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

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.