Cambridge Trust Co. Trims Holdings in PPG Industries, Inc. (NYSE:PPG)

Cambridge Trust Co. reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,821 shares of the specialty chemicals company’s stock after selling 273 shares during the quarter. Cambridge Trust Co.’s holdings in PPG Industries were worth $1,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Federated Hermes Inc. boosted its position in shares of PPG Industries by 84.6% during the 4th quarter. Federated Hermes Inc. now owns 60,987 shares of the specialty chemicals company’s stock valued at $9,121,000 after acquiring an additional 27,949 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in PPG Industries by 54.2% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 444 shares of the specialty chemicals company’s stock worth $66,000 after purchasing an additional 156 shares during the period. Daiwa Securities Group Inc. boosted its holdings in PPG Industries by 7.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 23,101 shares of the specialty chemicals company’s stock valued at $3,455,000 after purchasing an additional 1,560 shares during the last quarter. KLCM Advisors Inc. purchased a new stake in shares of PPG Industries in the 4th quarter valued at approximately $203,000. Finally, Tyche Wealth Partners LLC acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $383,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on PPG shares. Citigroup decreased their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. KeyCorp lowered their price target on PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Vertical Research upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $150.00 target price on shares of PPG Industries in a research report on Friday, January 19th. Finally, UBS Group dropped their price target on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Insider Buying and Selling

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the business’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 completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $135.40 on Friday. The firm’s 50 day moving average price is $140.53 and its 200 day moving average price is $138.87. The company has a market cap of $31.87 billion, a P/E ratio of 25.30, a PEG ratio of 1.61 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89.

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