Tiedemann Advisors LLC lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 28.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,114 shares of the specialty chemicals company’s stock after selling 846 shares during the quarter. Tiedemann Advisors LLC’s holdings in PPG Industries were worth $218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PPG. McKinley Carter Wealth Services Inc. acquired a new stake in shares of PPG Industries during the first quarter worth about $104,000. Cornerstone Wealth Management LLC acquired a new stake in shares of PPG Industries during the second quarter worth about $105,000. Archford Capital Strategies LLC acquired a new stake in PPG Industries in the first quarter valued at approximately $109,000. Kohmann Bosshard Financial Services LLC acquired a new stake in PPG Industries in the first quarter valued at approximately $112,000. Finally, Summit Trail Advisors LLC raised its holdings in PPG Industries by 11,166.0% in the first quarter. Summit Trail Advisors LLC now owns 118,631 shares of the specialty chemicals company’s stock valued at $119,000 after acquiring an additional 117,578 shares in the last quarter. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of PPG traded down $1.29 during mid-day trading on Friday, reaching $95.09. 2,350,359 shares of the company’s stock were exchanged, compared to its average volume of 1,696,030. The company has a current ratio of 1.70, a quick ratio of 1.22 and a debt-to-equity ratio of 1.01. The firm has a market cap of $26.41 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.11 and a beta of 1.50. PPG Industries, Inc. has a 52-week low of $94.40 and a 52-week high of $122.07.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 19th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.12 billion. PPG Industries had a net margin of 9.87% and a return on equity of 27.36%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. As a group, equities research analysts forecast that PPG Industries, Inc. will post 6.2 EPS for the current fiscal year.

PPG has been the topic of several analyst reports. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and set a $113.00 target price on the stock. in a report on Friday, July 27th. They noted that the move was a valuation call. Deutsche Bank reduced their target price on shares of PPG Industries from $124.00 to $116.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank of Canada reduced their target price on shares of PPG Industries to $105.00 and set a “sector perform” rating on the stock in a report on Wednesday. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $119.00 price target on shares of PPG Industries in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $118.71.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

Further Reading: Moving Average – How it Helps Investors in Stock Selection

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

Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.