PPG Industries, Inc. (NYSE:PPG) Shares Sold by Private Trust Co. NA

Private Trust Co. NA decreased its position in PPG Industries, Inc. (NYSE:PPG) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,194 shares of the specialty chemicals company’s stock after selling 384 shares during the quarter. Private Trust Co. NA’s holdings in PPG Industries were worth $820,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vest Financial LLC increased its stake in PPG Industries by 28.9% during the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after purchasing an additional 75,620 shares during the last quarter. BDF Gestion acquired a new stake in PPG Industries during the second quarter worth about $3,452,000. Equity Investment Corp lifted its holdings in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after acquiring an additional 42,380 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of PPG Industries during the 3rd quarter worth approximately $604,000. Finally, Swedbank AB lifted its holdings in shares of PPG Industries by 6.3% in the 2nd quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock worth $19,986,000 after purchasing an additional 9,412 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Transactions at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Mizuho dropped their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Down 1.9 %

Shares of PPG Industries stock opened at $123.37 on Wednesday. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The firm has a market capitalization of $28.62 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average is $126.88 and its 200-day moving average is $127.25.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 EPS. Equities analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

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.