PPG Industries, Inc. (NYSE:PPG) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,323 shares of the specialty chemicals company’s stock after selling 105 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in PPG Industries were worth $292,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of PPG Industries by 17.2% in the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the period. Norges Bank acquired a new position in shares of PPG Industries in the fourth quarter worth $554,685,000. Charles Schwab Investment Management Inc. increased its stake in PPG Industries by 37.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,839,000 shares of the specialty chemicals company’s stock valued at $270,876,000 after purchasing an additional 496,998 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in PPG Industries by 30.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,768,094 shares of the specialty chemicals company’s stock valued at $264,424,000 after purchasing an additional 417,145 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in PPG Industries by 549.0% in the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after purchasing an additional 216,675 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the subject of several analyst reports. StockNews.com upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. BMO Capital Markets dropped their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Bank of America dropped their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. KeyCorp dropped their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, UBS Group upped their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Up 1.2 %

NYSE PPG traded up $1.52 on Wednesday, reaching $124.52. The stock had a trading volume of 314,728 shares, compared to its average volume of 1,646,169. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The business has a 50 day moving average price of $125.74 and a 200 day moving average price of $132.96. The company has a market capitalization of $29.05 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.61 and a beta of 1.26. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.18%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. PPG Industries’s payout ratio is currently 45.95%.

About PPG Industries

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.