Kovitz Investment Group Partners LLC Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Kovitz Investment Group Partners LLC trimmed its stake in PPG Industries, Inc. (NYSE:PPG) by 45.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,755 shares of the specialty chemicals company’s stock after selling 2,325 shares during the period. Kovitz Investment Group Partners LLC’s holdings in PPG Industries were worth $336,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its position in shares of PPG Industries by 1.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,395,734 shares of the specialty chemicals company’s stock worth $254,092,000 after purchasing an additional 23,383 shares during the period. Principal Financial Group Inc. lifted its position in shares of PPG Industries by 2.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,266,578 shares of the specialty chemicals company’s stock worth $134,333,000 after purchasing an additional 31,669 shares during the period. First Eagle Investment Management LLC lifted its position in shares of PPG Industries by 35.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,207,048 shares of the specialty chemicals company’s stock worth $128,020,000 after purchasing an additional 313,412 shares during the period. FMR LLC lifted its position in shares of PPG Industries by 84.3% in the 2nd quarter. FMR LLC now owns 1,136,356 shares of the specialty chemicals company’s stock worth $120,522,000 after purchasing an additional 519,829 shares during the period. Finally, Swiss National Bank lifted its position in shares of PPG Industries by 1.6% in the 2nd quarter. Swiss National Bank now owns 932,247 shares of the specialty chemicals company’s stock worth $98,874,000 after purchasing an additional 14,400 shares during the period. 77.11% of the stock is owned by hedge funds and other institutional investors.

Shares of PPG Industries stock opened at $143.04 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a market capitalization of $33.79 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 4.01 and a beta of 1.22. PPG Industries, Inc. has a 52-week low of $69.77 and a 52-week high of $149.34. The company has a 50-day simple moving average of $134.71 and a two-hundred day simple moving average of $116.12.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Monday, October 19th. The specialty chemicals company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.01. PPG Industries had a net margin of 7.85% and a return on equity of 25.46%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the business posted $1.67 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities research analysts forecast that PPG Industries, Inc. will post 5.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.51%. PPG Industries’s dividend payout ratio is presently 34.73%.

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of PPG Industries from $132.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Royal Bank of Canada lifted their price target on shares of PPG Industries from $141.00 to $144.00 and gave the company an “outperform” rating in a research report on Friday, October 9th. Evercore ISI assumed coverage on shares of PPG Industries in a research report on Tuesday, September 22nd. They set an “inline” rating and a $135.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PPG Industries from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Finally, Credit Suisse Group lifted their price target on shares of PPG Industries from $130.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. PPG Industries presently has an average rating of “Buy” and a consensus price target of $132.44.

In other news, VP William E. Schaupp sold 3,850 shares of PPG Industries stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $134.66, for a total value of $518,441.00. Following the completion of the sale, the vice president now directly owns 4,333 shares in the company, valued at $583,481.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael H. Mcgarry sold 81,022 shares of PPG Industries stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $133.65, for a total transaction of $10,828,590.30. Following the completion of the sale, the chief executive officer now owns 173,940 shares of the company’s stock, valued at $23,247,081. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock valued at $13,193,588 over the last quarter. Company insiders own 0.41% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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

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