Kintegral Advisory LLC Cuts Holdings in PPG Industries, Inc. (NYSE:PPG)

by · The Cerbat Gem

Kintegral Advisory LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG – Free Report) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,706 shares of the specialty chemicals company’s stock after selling 266 shares during the quarter. Kintegral Advisory LLC’s holdings in PPG Industries were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Legend Financial Advisors Inc. acquired a new stake in PPG Industries in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. increased its position in shares of PPG Industries by 465.1% in the 3rd 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 during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries in the 3rd quarter valued at $34,000. Albion Financial Group UT purchased a new stake in shares of PPG Industries during the 4th quarter worth $38,000. Finally, Hara Capital LLC acquired a new position in shares of PPG Industries during the third quarter worth $40,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.55% of the stock is owned by insiders.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $114.88 on Friday. The firm’s fifty day simple moving average is $118.29 and its 200-day simple moving average is $123.25. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 2.19 and a beta of 1.23. 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 (NYSE:PPG – Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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%. As a group, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Analysts Set New Price Targets

A number of analysts have weighed in on PPG shares. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Mizuho cut their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. UBS Group decreased 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. Royal Bank of Canada dropped their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company cut their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.15.

Check Out Our Latest Stock Report on PPG

PPG Industries Company Profile

(Free Report)

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.

See Also

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