Kingsview Wealth Management LLC Sells 893 Shares of PPG Industries, Inc. (NYSE:PPG)

Posted by Defense World Staff on Jun 11th, 2023

Kingsview Wealth Management LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 23.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,867 shares of the specialty chemicals company’s stock after selling 893 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PPG Industries were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Ropes Wealth Advisors LLC bought a new stake in PPG Industries during the 4th quarter worth approximately $209,000. Stratos Wealth Advisors LLC grew its holdings in PPG Industries by 57.5% during the 4th quarter. Stratos Wealth Advisors LLC now owns 6,864 shares of the specialty chemicals company’s stock worth $863,000 after acquiring an additional 2,507 shares during the last quarter. Profund Advisors LLC grew its holdings in PPG Industries by 10.5% during the 4th quarter. Profund Advisors LLC now owns 6,840 shares of the specialty chemicals company’s stock worth $860,000 after acquiring an additional 648 shares during the last quarter. Romano Brothers AND Company bought a new stake in PPG Industries during the 4th quarter worth approximately $141,000. Finally, Heartland Advisors Inc. grew its holdings in PPG Industries by 41.5% during the 4th quarter. Heartland Advisors Inc. now owns 104,812 shares of the specialty chemicals company’s stock worth $13,179,000 after acquiring an additional 30,741 shares during the last quarter. 80.04% of the stock is owned by institutional investors.

PPG Industries Stock Performance

PPG opened at $139.67 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.15 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average price is $138.63 and its two-hundred day moving average price is $132.57. PPG Industries, Inc. has a 1-year low of $107.06 and a 1-year high of $145.51. The company has a market cap of $32.88 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.19 and a beta of 1.18.

PPG Industries (NYSE:PPG – Get Rating) last released its quarterly earnings data on Friday, April 21st. The specialty chemicals company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.27. PPG Industries had a net margin of 7.18% and a return on equity of 23.35%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. On average, analysts expect that PPG Industries, Inc. will post 7.25 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Wednesday, May 10th will be paid a $0.62 dividend. The ex-dividend date is Tuesday, May 9th. This represents a $2.48 annualized dividend and a dividend yield of 1.78%. PPG Industries’s payout ratio is 46.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PPG shares. Royal Bank of Canada boosted their target price on shares of PPG Industries from $143.00 to $145.00 in a report on Monday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of PPG Industries from $160.00 to $165.00 in a research report on Monday, April 24th. BMO Capital Markets boosted their price target on shares of PPG Industries from $151.00 to $158.00 in a research report on Tuesday, April 25th. Barclays boosted their price target on shares of PPG Industries from $142.00 to $150.00 in a research report on Monday, April 24th. Finally, Wells Fargo & Company dropped their price target on shares of PPG Industries from $150.00 to $145.00 in a research report on Thursday, May 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $148.28.

PPG Industries Company Profile

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.

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

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