TrimTabs Asset Management LLC cut its stake in PPG Industries Inc. (NYSE:PPG) by 15.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,737 shares of the company’s stock after selling 2,825 shares during the period. TrimTabs Asset Management LLC’s holdings in PPG Industries were worth $1,639,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of PPG. Meeder Asset Management Inc. acquired a new position in PPG Industries during the first quarter valued at about $144,000. Invictus RG acquired a new position in PPG Industries during the first quarter valued at about $147,000. Checchi Capital Advisers LLC boosted its position in PPG Industries by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,944 shares of the company’s stock valued at $202,000 after buying an additional 59 shares during the last quarter. Concert Wealth Management Inc. boosted its position in PPG Industries by 9.2% in the second quarter. Concert Wealth Management Inc. now owns 1,969 shares of the company’s stock valued at $203,000 after buying an additional 166 shares during the last quarter. Finally, Cypress Wealth Advisors LLC acquired a new position in PPG Industries during the first quarter valued at about $217,000. 73.01% of the stock is currently owned by hedge funds and other institutional investors.
PPG Industries Inc. (NYSE:PPG) traded down 0.16% during midday trading on Wednesday, hitting $92.66. The stock had a trading volume of 752,789 shares. The stock has a 50-day moving average of $100.82 and a 200-day moving average of $106.06. The firm has a market cap of $24.67 billion, a P/E ratio of 17.12 and a beta of 1.47. PPG Industries Inc. has a 52 week low of $88.37 and a 52 week high of $117.00.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 21st. The company reported $1.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.85. PPG Industries had a return on equity of 30.94% and a net margin of 9.57%. The firm earned $4.10 billion during the quarter, compared to analysts’ expectations of $4.17 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. The company’s revenue was down .9% on a year-over-year basis. Analysts forecast that PPG Industries Inc. will post $6.17 EPS for the current fiscal year.
PPG has been the subject of several research reports. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $115.00 target price on shares of PPG Industries in a research note on Tuesday, September 13th. Royal Bank Of Canada decreased their target price on PPG Industries from $125.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday, October 11th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $111.00 target price (down previously from $119.00) on shares of PPG Industries in a research note on Thursday, October 13th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of PPG Industries in a research note on Wednesday, July 6th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. PPG Industries currently has an average rating of “Buy” and an average price target of $115.46.
In other news, insider Viktoras R. Sekmakas sold 40,950 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the completion of the transaction, the insider now directly owns 69,044 shares of the company’s stock, valued at $7,362,852.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy M. Knavish sold 9,300 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.08, for a total value of $967,944.00. Following the transaction, the vice president now directly owns 11,806 shares of the company’s stock, valued at $1,228,768.48. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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