PPG Industries, Inc. (NYSE:PPG) CEO Sells $568,080.00 in Stock

PPG Industries, Inc. (NYSE:PPG) CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PPG Industries Stock Performance

NYSE:PPG opened at $119.26 on Wednesday. The stock’s 50-day simple moving average is $118.84 and its 200 day simple moving average is $123.36. The firm has a market capitalization of $27.67 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Institutional Trading of PPG Industries

A number of hedge funds have recently made changes to their positions in PPG. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the fourth 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 acquired a new stake in shares of PPG Industries during the third quarter valued at about $34,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries during the fourth quarter valued at about $36,000. Finally, Albion Financial Group UT acquired a new stake in shares of PPG Industries during the fourth quarter valued at about $38,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PPG. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Barclays lowered their price objective on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Wells Fargo & Company lowered their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group lowered their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.15.

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.