PPG Industries, Inc. (NYSE:PPG) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 20.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,841 shares of the specialty chemicals company’s stock after selling 2,070 shares during the period. D.B. Root & Company LLC’s holdings in PPG Industries were worth $1,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in PPG Industries by 17.2% in the 1st 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 last quarter. Dimensional Fund Advisors LP grew its holdings in PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares during the period. International Assets Investment Management LLC grew its holdings in PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after buying an additional 279,455 shares during the period. Federated Hermes Inc. grew its holdings in PPG Industries by 91.0% in the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after buying an additional 249,406 shares during the period. Finally, SG Americas Securities LLC grew its holdings in PPG Industries by 549.0% in the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after buying an additional 216,675 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 0.9 %

NYSE PPG opened at $125.78 on Thursday. The stock has a market cap of $29.18 billion, a PE ratio of 19.93, a P/E/G ratio of 1.91 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The business has a 50 day moving average price of $127.86 and a two-hundred day moving average price of $128.10. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 EPS. As a group, sell-side analysts predict that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Analysts Set New Price Targets

Several analysts have commented on PPG shares. Bank of America lowered their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Barclays lowered their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. UBS Group lifted their price target on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Citigroup lowered their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Company 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.