Insider Selling: PPG Industries, Inc. (PPG) Director Sells 674 Shares of Stock

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PPG Industries, Inc. (NYSE:PPG) Director Victoria F. Haynes sold 674 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $107.16, for a total transaction of $72,225.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of PPG traded up $0.63 during mid-day trading on Friday, reaching $107.45. The company’s stock had a trading volume of 19,284 shares, compared to its average volume of 1,271,601. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.40. PPG Industries, Inc. has a 52 week low of $94.37 and a 52 week high of $121.29.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.17. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.69 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 6.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.79%. PPG Industries’s payout ratio is 32.43%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Taylor Hoffman Wealth Management purchased a new position in shares of PPG Industries in the fourth quarter worth $27,000. Oregon Public Employees Retirement Fund increased its stake in shares of PPG Industries by 10,003.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 2,782,589 shares during the period. Paragon Capital Management LLC purchased a new position in shares of PPG Industries in the first quarter worth $29,000. Capital Financial Planning LLC purchased a new position in shares of PPG Industries in the fourth quarter worth $31,000. Finally, Zions Bancorporation N.A. purchased a new position in shares of PPG Industries in the first quarter worth $34,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. BMO Capital Markets raised their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. Deutsche Bank raised their price objective on shares of PPG Industries from $120.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. They noted that the move was a valuation call. KeyCorp raised their price objective on shares of PPG Industries from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Barclays raised their price objective on shares of PPG Industries from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $117.89.

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About PPG Industries

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.

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