PPG Industries (NYSE:PPG) VP Sells 2,500 Shares of Company Stock

PPG Industries, Inc. (NYSE:PPG) VP Chancey Hagerty sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total transaction of $317,850.00. Following the completion of the transaction, the vice president directly owned 9,761 shares in the company, valued at approximately $1,241,013.54. The trade was a 20.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

PPG Industries Stock Down 3.0%

PPG traded down $3.85 during midday trading on Thursday, reaching $123.42. 2,313,413 shares of the company were exchanged, compared to its average volume of 2,003,474. The company’s fifty day moving average price is $109.43 and its 200 day moving average price is $112.71. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The company has a market cap of $27.26 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.13. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the firm posted $2.13 EPS. PPG Industries’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts expect that PPG Industries, Inc. will post 7.98 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be paid a $0.74 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $2.96 annualized dividend and a yield of 2.4%. PPG Industries’s dividend payout ratio (DPR) is 42.29%.

Hedge Funds Weigh In On PPG Industries

Several hedge funds have recently bought and sold shares of PPG. BlackRock Inc. purchased a new stake in PPG Industries in the 2nd quarter worth approximately $2,856,392,000. Pzena Investment Management LLC bought a new stake in shares of PPG Industries during the 2nd quarter valued at about $946,964,000. Bank of New York Mellon Corp purchased a new position in shares of PPG Industries during the second quarter valued at about $318,870,000. Bank of America Corp DE bought a new position in PPG Industries in the second quarter worth about $278,965,000. Finally, First Trust Advisors LP raised its stake in PPG Industries by 321.4% in the first quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock worth $244,462,000 after buying an additional 1,744,528 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PPG. UBS Group increased their price target on shares of PPG Industries from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research report on Monday, September 14th. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and boosted their target price for the company from $127.00 to $134.00 in a research note on Friday, July 17th. Wells Fargo & Company increased their target price on shares of PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Finally, Royal Bank Of Canada raised their price target on shares of PPG Industries from $115.00 to $123.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 29th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.29.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.