PPG Industries, Inc. (NYSE:PPG) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,102 shares of the specialty chemicals company’s stock after selling 168 shares during the period. Fiduciary Trust Co’s holdings in PPG Industries were worth $2,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. PUREfi Wealth LLC purchased a new position in PPG Industries in the 4th quarter valued at about $279,000. PFW Advisors LLC acquired a new position in shares of PPG Industries in the fourth quarter worth about $868,000. JGP Wealth Management LLC purchased a new position in PPG Industries in the fourth quarter valued at about $4,050,000. Vanguard Group Inc. grew its stake in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after purchasing an additional 756,937 shares in the last quarter. Finally, Avanza Fonder AB purchased a new stake in PPG Industries during the 4th quarter worth approximately $2,944,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

PPG Industries Trading Up 0.7 %

NYSE:PPG opened at $109.32 on Friday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. 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 business has a 50 day simple moving average of $106.58 and a 200 day simple moving average of $115.67. The firm has a market capitalization of $24.82 billion, a P/E ratio of 23.11, a P/E/G ratio of 2.19 and a beta of 1.20.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 earnings per share. Equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. PPG Industries’s dividend payout ratio is presently 58.24%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Mizuho decreased their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada upped their target price on shares of PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company boosted their price objective on PPG Industries from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.83.

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.