Twin Capital Management Inc. Sells 114 Shares of PPG Industries, Inc. (NYSE:PPG)

Twin Capital Management Inc. lowered its position in PPG Industries, Inc. (NYSE:PPG) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,728 shares of the specialty chemicals company’s stock after selling 114 shares during the period. Twin Capital Management Inc.’s holdings in PPG Industries were worth $1,305,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in PPG Industries in the 3rd quarter worth $25,000. Valued Wealth Advisors LLC bought a new position in shares of PPG Industries during the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. boosted its holdings in shares of PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares during the last quarter. CVA Family Office LLC bought a new position in shares of PPG Industries during the 4th quarter valued at about $28,000. Finally, Harbour Investments Inc. boosted its holdings in shares of PPG Industries by 84.9% during the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

PPG has been the subject of several research reports. Wolfe Research initiated coverage on shares of PPG Industries in a report on Friday, March 1st. They set a “peer perform” rating for the company. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a report on Monday, January 22nd. Citigroup decreased their target price on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Finally, UBS Group decreased their target price on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Buying and Selling

In other news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Stock Performance

PPG Industries stock opened at $135.11 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05. PPG Industries, Inc. has a 1-year low of $120.32 and a 1-year high of $152.89. The firm has a market capitalization of $31.80 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The company’s 50-day moving average is $140.53 and its 200 day moving average is $138.87.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period in the prior year, the company posted $1.82 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts forecast that PPG Industries, Inc. will post 8.46 EPS for the current year.

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.