Procyon Advisors LLC Sells 3,308 Shares of PPG Industries, Inc. (NYSE:PPG)

Procyon Advisors LLC trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,883 shares of the specialty chemicals company’s stock after selling 3,308 shares during the period. Procyon Advisors LLC’s holdings in PPG Industries were worth $2,501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. Virtu Financial LLC bought a new position in PPG Industries during the fourth quarter valued at $567,000. Syon Capital LLC grew its holdings in PPG Industries by 7.9% during the fourth quarter. Syon Capital LLC now owns 2,501 shares of the specialty chemicals company’s stock valued at $374,000 after purchasing an additional 183 shares during the period. Richardson Financial Services Inc. purchased a new stake in shares of PPG Industries during the fourth quarter worth $29,000. Trust Co. of Vermont lifted its position in shares of PPG Industries by 78.4% during the fourth quarter. Trust Co. of Vermont now owns 3,123 shares of the specialty chemicals company’s stock worth $467,000 after acquiring an additional 1,372 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of PPG Industries by 641.4% during the fourth quarter. Quadrature Capital Ltd now owns 36,523 shares of the specialty chemicals company’s stock worth $5,462,000 after acquiring an additional 31,597 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on PPG shares. Bank of America cut their target price 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. Barclays decreased their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada lowered their target price on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. KeyCorp reduced their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, UBS Group increased their price objective 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Up 0.2 %

Shares of NYSE PPG opened at $128.50 on Tuesday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The firm’s 50 day simple moving average is $126.27 and its two-hundred day simple moving average is $129.36. The stock has a market capitalization of $30.13 billion, a P/E ratio of 21.71, a PEG ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the business earned $2.25 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that PPG Industries, Inc. will post 8.24 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is 45.95%.

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.