Fragasso Financial Advisors Inc Sells 351 Shares of PPG Industries, Inc. (NYSE:PPG)

Fragasso Financial Advisors Inc cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,405 shares of the specialty chemicals company’s stock after selling 351 shares during the period. Fragasso Financial Advisors Inc’s holdings in PPG Industries were worth $1,356,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. LRI Investments LLC boosted its stake in shares of PPG Industries by 25.3% during the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock valued at $54,000 after purchasing an additional 92 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in PPG Industries by 1.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 103 shares during the last quarter. Savant Capital LLC boosted its position in PPG Industries by 0.9% during the 4th quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock worth $1,407,000 after buying an additional 107 shares during the period. G&S Capital LLC grew its holdings in PPG Industries by 2.2% during the 4th quarter. G&S Capital LLC now owns 5,024 shares of the specialty chemicals company’s stock worth $600,000 after acquiring an additional 109 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its holdings in PPG Industries by 3.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company’s stock worth $376,000 after acquiring an additional 113 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PPG shares. Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Fermium Researc raised PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Citigroup decreased their price target on PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price objective on PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $128.42.

PPG Industries Price Performance

Shares of PPG opened at $110.71 on Monday. The firm has a market cap of $25.13 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The business’s 50 day moving average price is $106.28 and its two-hundred day moving average price is $114.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.67 billion. During the same period in the prior year, the firm earned $1.87 earnings per share. PPG Industries’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Monday, May 12th. PPG Industries’s payout ratio is 58.24%.

PPG Industries Company Profile

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.