Empower Advisory Group LLC Has $9.49 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Empower Advisory Group LLC trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,634 shares of the specialty chemicals company’s stock after selling 1,468 shares during the quarter. Empower Advisory Group LLC’s holdings in PPG Industries were worth $9,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PPG. Financial Connections Group Inc. bought a new position in PPG Industries in the 2nd quarter worth approximately $25,000. Capital Performance Advisors LLP bought a new position in PPG Industries in the 3rd quarter worth approximately $34,000. Rothschild Investment LLC bought a new position in PPG Industries in the 2nd quarter worth approximately $37,000. Hara Capital LLC acquired a new stake in PPG Industries during the 3rd quarter worth $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in PPG Industries during the 3rd quarter worth $46,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of several research analyst reports. Bank of America decreased their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Barclays reduced their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Finally, KeyCorp reduced their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $123.41 on Thursday. The firm has a 50 day simple moving average of $127.52 and a 200 day simple moving average of $127.93. The company has a market cap of $28.63 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.86 and a beta of 1.26. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the business earned $2.07 EPS. PPG Industries’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.