PPG Industries, Inc. $PPG Holdings Decreased by State of Wyoming

State of Wyoming decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 99.0% in the 3rd quarter, Holdings Channel reports. The fund owned 615 shares of the specialty chemicals company’s stock after selling 60,059 shares during the quarter. State of Wyoming’s holdings in PPG Industries were worth $64,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPG. Meeder Asset Management Inc. bought a new stake in PPG Industries in the 2nd quarter valued at $26,000. Keating Financial Advisory Services Inc. bought a new position in PPG Industries during the 2nd quarter worth about $28,000. Community Bank N.A. acquired a new stake in shares of PPG Industries in the 2nd quarter valued at about $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of PPG Industries in the 2nd quarter valued at about $29,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of PPG Industries in the 2nd quarter valued at about $30,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PPG Industries news, VP Chancey Hagerty sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $127.14, for a total value of $317,850.00. Following the completion of the transaction, the vice president directly owned 9,761 shares in the company, valued at $1,241,013.54. This trade represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group upped their price objective on PPG Industries from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $128.00 target price on shares of PPG Industries in a research report on Friday, October 9th. Citigroup boosted their target price on PPG Industries from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. KeyCorp upped their price target on PPG Industries from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Finally, Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus price target of $128.29.

PPG Industries Stock Down 2.1%

Shares of PPG stock opened at $122.38 on Friday. The firm’s fifty day moving average price is $110.78 and its two-hundred day moving average price is $113.07. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43. The firm has a market capitalization of $27.03 billion, a P/E ratio of 17.48, a PEG ratio of 2.15 and a beta of 1.00.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $2.25 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 net margin of 9.41% and a return on equity of 20.90%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.13 EPS. On average, equities analysts predict that PPG Industries, Inc. will post 7.98 EPS for the current fiscal year.

PPG Industries Dividend Announcement

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

PPG Industries 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.