Banque Cantonale Vaudoise Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Banque Cantonale Vaudoise decreased its position in PPG Industries, Inc. (NYSE:PPG) by 17.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,442 shares of the specialty chemicals company’s stock after selling 2,860 shares during the period. Banque Cantonale Vaudoise’s holdings in PPG Industries were worth $1,780,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PPG. Covestor Ltd grew its stake in shares of PPG Industries by 25.2% in the 1st quarter. Covestor Ltd now owns 582 shares of the specialty chemicals company’s stock valued at $84,000 after buying an additional 117 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of PPG Industries by 62.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,410 shares of the specialty chemicals company’s stock worth $2,233,000 after purchasing an additional 5,930 shares during the period. National Bank of Canada FI boosted its position in shares of PPG Industries by 13.7% during the 1st quarter. National Bank of Canada FI now owns 119,924 shares of the specialty chemicals company’s stock worth $16,229,000 after purchasing an additional 14,473 shares during the period. Pitcairn Co. boosted its position in shares of PPG Industries by 16.3% during the 1st quarter. Pitcairn Co. now owns 1,623 shares of the specialty chemicals company’s stock worth $235,000 after purchasing an additional 228 shares during the period. Finally, Natixis purchased a new position in shares of PPG Industries during the 1st quarter worth approximately $1,926,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling

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

PPG Industries Price Performance

Shares of PPG opened at $121.29 on Thursday. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The firm’s fifty day simple moving average is $127.14 and its 200-day simple moving average is $127.59. The firm has a market capitalization of $28.14 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.87 and a beta of 1.26. 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 (NYSE:PPG) last announced its quarterly earnings data 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). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the business posted $2.07 earnings per share. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.24%. PPG Industries’s dividend payout ratio is currently 43.11%.

Analyst Ratings Changes

PPG has been the subject of a number of research analyst reports. 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. Mizuho lowered their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Royal Bank of Canada decreased their price target on shares of 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, StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $149.93.

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.