Avantax Advisory Services Inc. Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Avantax Advisory Services Inc. lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,222 shares of the specialty chemicals company’s stock after selling 1,222 shares during the period. Avantax Advisory Services Inc.’s holdings in PPG Industries were worth $2,296,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. grew its position in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $38,000. Crews Bank & Trust acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $113.65 on Monday. 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 company’s 50-day moving average price is $116.36 and its two-hundred day moving average price is $122.26. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61. The stock has a market cap of $25.80 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated 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. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. The Goldman Sachs Group decreased their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company 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.