Azzad Asset Management Inc. ADV Sells 83 Shares of PPG Industries, Inc. (NYSE:PPG)

Azzad Asset Management Inc. ADV lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,706 shares of the specialty chemicals company’s stock after selling 83 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in PPG Industries were worth $3,870,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Wedmont Private Capital lifted its holdings in PPG Industries by 2.9% in the 4th quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after purchasing an additional 70 shares in the last quarter. Barrett & Company Inc. grew its stake in PPG Industries by 10.6% during the fourth quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock valued at $114,000 after acquiring an additional 73 shares in the last quarter. FinTrust Capital Advisors LLC increased its holdings in PPG Industries by 38.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 76 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in PPG Industries by 20.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 462 shares of the specialty chemicals company’s stock worth $69,000 after purchasing an additional 80 shares in the last quarter. Finally, Gryphon Financial Partners LLC boosted its holdings in shares of PPG Industries by 1.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after purchasing an additional 81 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish bought 2,061 shares of the stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the acquisition, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,774,388.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PPG. Evercore ISI cut PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price for the company. in a report on Monday, April 22nd. Royal Bank of Canada cut their price objective on shares of PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Citigroup lowered their target price on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Bank of America cut their price target on shares of PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. One investment 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’s stock. Based on data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average target price of $155.47.

PPG Industries Stock Down 0.1 %

Shares of PPG stock traded down $0.09 during trading hours on Wednesday, reaching $124.79. 308,844 shares of the stock were exchanged, compared to its average volume of 1,657,516. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89. The business’s fifty day moving average is $130.51 and its two-hundred day moving average is $137.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The firm has a market capitalization of $29.26 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.56 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. The business 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%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. As a group, research analysts expect 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 share repurchase program on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 2.08%. PPG Industries’s payout ratio is 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.