CENTRAL TRUST Co Decreases Stock Position in PPG Industries, Inc. (NYSE:PPG)

CENTRAL TRUST Co cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,785 shares of the specialty chemicals company’s stock after selling 218 shares during the period. CENTRAL TRUST Co’s holdings in PPG Industries were worth $1,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. Adams Natural Resources Fund Inc. lifted its holdings in PPG Industries by 8.9% in the 1st quarter. Adams Natural Resources Fund Inc. now owns 55,000 shares of the specialty chemicals company’s stock valued at $7,970,000 after purchasing an additional 4,500 shares in the last quarter. Simplicity Wealth LLC purchased a new position in PPG Industries in the 1st quarter valued at about $930,000. Spire Wealth Management lifted its holdings in PPG Industries by 3.8% in the 1st quarter. Spire Wealth Management now owns 3,931 shares of the specialty chemicals company’s stock valued at $570,000 after purchasing an additional 143 shares in the last quarter. Essex Financial Services Inc. lifted its holdings in PPG Industries by 0.6% in the 1st quarter. Essex Financial Services Inc. now owns 13,266 shares of the specialty chemicals company’s stock valued at $1,922,000 after purchasing an additional 81 shares in the last quarter. Finally, Godsey & Gibb Inc. lifted its holdings in PPG Industries by 4.4% in the 1st quarter. Godsey & Gibb Inc. now owns 2,584 shares of the specialty chemicals company’s stock valued at $374,000 after purchasing an additional 109 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Timothy M. Knavish acquired 2,061 shares of PPG Industries stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the purchase, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the subject of a number of research analyst reports. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $163.00 in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Evercore ISI downgraded shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective for the company. in a research note on Monday, April 22nd. Finally, KeyCorp dropped their price objective on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.47.

PPG Industries Stock Up 0.7 %

NYSE PPG traded up $0.97 on Wednesday, reaching $134.70. The company had a trading volume of 1,681,775 shares, compared to its average volume of 1,709,465. The firm has a market capitalization of $31.59 billion, a PE ratio of 22.75, a P/E/G ratio of 1.66 and a beta of 1.30. PPG Industries, Inc. has a 1 year low of $120.32 and a 1 year high of $152.89. The firm has a 50-day moving average of $136.51 and a 200-day moving average of $139.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 EPS. On average, equities research analysts anticipate that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries declared that its Board of Directors has initiated a stock buyback program on Thursday, April 18th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is currently 43.92%.

PPG Industries 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.