Insider Selling: PPG Industries (NYSE:PPG) VP Sells $317,850.00 in Stock

PPG Industries, Inc. (NYSE:PPG) VP Chancey Hagerty sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total value of $317,850.00. Following the completion of the sale, the vice president directly owned 9,761 shares of the company’s stock, valued at $1,241,013.54. The trade was a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PPG Industries Stock Performance

NYSE PPG opened at $122.51 on Friday. The company has a market cap of $27.06 billion, a P/E ratio of 17.50, a P/E/G ratio of 2.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58. The business’s 50 day moving average price is $109.79 and its 200-day moving average price is $112.85. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.13. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.28 billion. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. PPG Industries’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $2.13 earnings per share. Sell-side analysts predict that PPG Industries, Inc. will post 7.98 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, November 10th. PPG Industries’s dividend payout ratio (DPR) is 42.29%.

Institutional Investors Weigh In On PPG Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. boosted its stake in PPG Industries by 0.8% in the 3rd quarter. Moors & Cabot Inc. now owns 11,486 shares of the specialty chemicals company’s stock worth $1,198,000 after purchasing an additional 87 shares during the period. Essential Partners LLC raised its position in shares of PPG Industries by 59.3% during the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 112 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of PPG Industries by 6.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company’s stock worth $244,000 after buying an additional 114 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of PPG Industries by 36.5% in the second quarter. Ancora Advisors LLC now owns 430 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 115 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of PPG Industries by 2.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 5,493 shares of the specialty chemicals company’s stock worth $573,000 after buying an additional 119 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group increased their price objective on shares of PPG Industries from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and boosted their target price for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research note on Monday, September 14th. Barclays increased their price target on PPG Industries from $136.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $137.00 price target on shares of PPG Industries in a report on Thursday, October 29th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.29.

PPG Industries Company Profile

PPG Industries, Inc is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania.

PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.

The company serves customers in markets around the world, including through operations in the Americas, Europe, the Middle East, Africa and Asia Pacific.