TCI Wealth Advisors Inc. Reduces Position in PPG Industries, Inc. (NYSE:PPG)

TCI Wealth Advisors Inc. lowered its position in PPG Industries, Inc. (NYSE:PPG) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,890 shares of the specialty chemicals company’s stock after selling 128 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in PPG Industries were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PPG. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. increased its stake in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries in the third quarter valued at about $34,000. Hara Capital LLC purchased a new position in shares of PPG Industries during the third quarter worth about $40,000. Finally, Albion Financial Group UT purchased a new position in shares of PPG Industries during the fourth quarter worth about $38,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PPG shares. Deutsche Bank Aktiengesellschaft decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup lowered their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada cut their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and an average price target of $149.23.

PPG Industries Stock Performance

NYSE PPG opened at $122.79 on Friday. The business has a 50 day moving average price of $121.25 and a 200 day moving average price of $124.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market capitalization of $28.49 billion, a P/E ratio of 19.46, a PEG ratio of 1.94 and a beta of 1.24. PPG Industries, Inc. has a 1-year low of $113.00 and a 1-year high of $145.60.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. Sell-side analysts expect that PPG Industries, Inc. will post 8.15 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio is currently 43.11%.

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.