Integrated Wealth Concepts LLC Sells 4,631 Shares of PPG Industries, Inc. (NYSE:PPG)

Integrated Wealth Concepts LLC trimmed its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 61.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,929 shares of the specialty chemicals company's stock after selling 4,631 shares during the quarter. Integrated Wealth Concepts LLC's holdings in PPG Industries were worth $350,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Barclays PLC lifted its position in shares of PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock valued at $151,276,000 after buying an additional 198,353 shares during the last quarter. Tidal Investments LLC raised its stake in PPG Industries by 1.2% in the 3rd quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company's stock valued at $1,763,000 after acquiring an additional 162 shares during the period. Franklin Resources Inc. lifted its holdings in PPG Industries by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock valued at $403,049,000 after purchasing an additional 170,339 shares during the last quarter. GAMMA Investing LLC boosted its position in PPG Industries by 8.9% during the fourth quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company's stock worth $731,000 after purchasing an additional 498 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of PPG Industries by 3.7% in the fourth quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company's stock valued at $2,328,000 after purchasing an additional 687 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on PPG shares. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a report on Thursday. Bank of America reaffirmed a "neutral" rating and issued a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. UBS Group upped their price objective on PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $128.83.

PPG Industries Trading Up 1.5 %

Shares of PPG Industries stock opened at $110.45 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.19 and a beta of 1.16. The firm's 50-day moving average price is $106.97 and its two-hundred day moving average price is $116.29.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period last year, the firm posted $1.87 earnings per share. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.46%. PPG Industries's dividend payout ratio is currently 57.51%.

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.