Pine Valley Investments Ltd Liability Co Sells 179 Shares of PPG Industries, Inc. (NYSE:PPG)

Pine Valley Investments Ltd Liability Co trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 1.3% during the third quarter, HoldingsChannel.com reports. The firm owned 13,824 shares of the specialty chemicals company’s stock after selling 179 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in PPG Industries were worth $1,831,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vest Financial LLC lifted its stake in PPG Industries by 28.9% in the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares in the last quarter. Equity Investment Corp raised its holdings in shares of PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after purchasing an additional 42,380 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of PPG Industries in the third quarter worth $604,000. Swedbank AB boosted its holdings in PPG Industries by 6.3% during the second 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. Finally, Charles Schwab Investment Management Inc. grew its position in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 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 $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $124.02 on Friday. 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 has a market cap of $28.77 billion, a PE ratio of 19.65, a PEG ratio of 1.88 and a beta of 1.24. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The business has a 50-day simple moving average of $125.82 and a two-hundred day simple moving average of $126.62.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) 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 business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the business earned $2.07 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.19%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s payout ratio is presently 43.11%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Royal Bank of Canada reduced their price target 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. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

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.