Corient Private Wealth LLC Has $8 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Corient Private Wealth LLC decreased its position in PPG Industries, Inc. (NYSE:PPG) by 16.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,974 shares of the specialty chemicals company’s stock after selling 12,720 shares during the period. Corient Private Wealth LLC’s holdings in PPG Industries were worth $8,000,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries in the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its holdings in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Albion Financial Group UT acquired a new position in PPG Industries in the fourth quarter valued at approximately $38,000. Crews Bank & Trust bought a new position in shares of PPG Industries during the 4th quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of PPG Industries during the 4th quarter worth approximately $44,000. Institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Stock Performance

NYSE PPG opened at $111.29 on Friday. The company has a fifty day moving average price of $116.15 and a 200-day moving average price of $121.91. The firm has a market cap of $25.26 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61.

PPG Industries (NYSE:PPG) last released its quarterly 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%. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. UBS Group reduced their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.