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Parr Mcknight Wealth Management Group LLC Sells 2,882 Shares of PPG Industries, Inc. (NYSE:PPG)

PPG Industries logo with Basic Materials background

Parr Mcknight Wealth Management Group LLC lowered its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 21.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,774 shares of the specialty chemicals company's stock after selling 2,882 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in PPG Industries were worth $1,178,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PPG. Brighton Jones LLC raised its position in shares of PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock worth $487,000 after acquiring an additional 339 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of PPG Industries by 25.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,961 shares of the specialty chemicals company's stock worth $234,000 after buying an additional 402 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of PPG Industries in the 4th quarter worth approximately $6,997,000. Independent Advisor Alliance grew its stake in shares of PPG Industries by 15.7% in the 4th quarter. Independent Advisor Alliance now owns 11,226 shares of the specialty chemicals company's stock worth $1,341,000 after buying an additional 1,524 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its stake in shares of PPG Industries by 256.2% in the 4th quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company's stock worth $2,838,000 after buying an additional 17,090 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PPG shares. Citigroup upped their price target on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Bank of America restated a "neutral" rating and issued a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Royal Bank Of Canada upped their price target on PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. cut their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.83.

Check Out Our Latest Report on PPG

PPG Industries Stock Performance

Shares of PPG stock traded down $1.73 on Friday, reaching $117.34. The stock had a trading volume of 770,595 shares, compared to its average volume of 1,861,812. The stock has a market cap of $26.64 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The company has a 50 day simple moving average of $112.51 and a 200 day simple moving average of $112.14.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The company's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.87 EPS. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.32%. PPG Industries's dividend payout ratio is currently 58.24%.

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

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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