Godsey & Gibb Inc. Sells 100 Shares of PPG Industries, Inc. (NYSE:PPG)

Godsey & Gibb Inc. reduced its position in PPG Industries, Inc. (NYSE:PPG) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,375 shares of the specialty chemicals company’s stock after selling 100 shares during the quarter. Godsey & Gibb Inc.’s holdings in PPG Industries were worth $284,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries during the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in PPG Industries during the third quarter valued at approximately $34,000. Hara Capital LLC bought a new position in PPG Industries in the third quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in PPG Industries during the third quarter worth $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company’s stock.

PPG Industries Trading Up 0.9 %

NYSE:PPG opened at $117.63 on Thursday. The company has a market capitalization of $27.29 billion, a P/E ratio of 18.64, a PEG ratio of 1.77 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12 month low of $113.00 and a 12 month high of $145.86. The firm has a fifty day simple moving average of $121.66 and a 200-day simple moving average of $124.91.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm 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%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. On average, equities research analysts anticipate that PPG Industries, Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PPG shares. Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.29.

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.