CENTRAL TRUST Co trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,309 shares of the specialty chemicals company's stock after selling 100 shares during the period. CENTRAL TRUST Co's holdings in PPG Industries were worth $1,362,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Captrust Financial Advisors lifted its position in PPG Industries by 64.0% during the third quarter. Captrust Financial Advisors now owns 18,986 shares of the specialty chemicals company's stock valued at $2,102,000 after buying an additional 7,406 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in PPG Industries by 4.4% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,422 shares of the specialty chemicals company's stock valued at $932,000 after buying an additional 352 shares in the last quarter. Kentucky Retirement Systems lifted its position in PPG Industries by 4.9% during the third quarter. Kentucky Retirement Systems now owns 18,395 shares of the specialty chemicals company's stock valued at $2,036,000 after buying an additional 865 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new position in PPG Industries during the third quarter valued at approximately $552,000. Finally, Balyasny Asset Management LLC acquired a new position in PPG Industries during the third quarter valued at approximately $22,016,000. 80.04% of the stock is owned by institutional investors and hedge funds.
Get PPG Industries alerts:Analyst Ratings Changes
A number of research firms have recently issued reports on PPG. Wells Fargo & Company lifted their price objective on shares of PPG Industries from $115.00 to $124.00 and gave the company an "equal weight" rating in a research note on Monday, January 23rd. Royal Bank of Canada lowered shares of PPG Industries from an "outperform" rating to a "sector perform" rating and lifted their price objective for the company from $128.00 to $129.00 in a research note on Tuesday, January 10th. Argus lifted their price objective on shares of PPG Industries from $144.00 to $149.00 in a research note on Monday, January 23rd. Mizuho reiterated a "buy" rating and set a $142.00 price objective on shares of PPG Industries in a research note on Tuesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PPG Industries from $128.00 to $145.00 in a research note on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $135.84.
Insider Activity
In other news, VP Anne M. Foulkes sold 21,757 shares of the business's stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the completion of the transaction, the vice president now owns 10,577 shares of the company's stock, valued at $1,357,346.41. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Michael H. Mcgarry sold 61,867 shares of the company's stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total value of $8,040,235.32. Following the completion of the sale, the chairman now owns 183,645 shares of the company's stock, valued at $23,866,504.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anne M. Foulkes sold 21,757 shares of the company's stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the completion of the sale, the vice president now directly owns 10,577 shares of the company's stock, valued at approximately $1,357,346.41. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.
PPG Industries Stock Performance
PPG Industries stock opened at $125.43 on Thursday. The company has a market cap of $29.52 billion, a PE ratio of 28.97, a P/E/G ratio of 2.75 and a beta of 1.17. The company has a fifty day moving average price of $129.73 and a two-hundred day moving average price of $124.84. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.52 and a quick ratio of 1.04. PPG Industries, Inc. has a 12 month low of $107.06 and a 12 month high of $138.10.
PPG Industries (NYSE:PPG – Get Rating) last released its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.08. PPG Industries had a net margin of 5.81% and a return on equity of 22.55%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The firm's revenue was down .1% on a year-over-year basis. Research analysts expect that PPG Industries, Inc. will post 6.49 earnings per share for the current year.
PPG Industries Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 17th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, February 16th. PPG Industries's dividend payout ratio (DPR) is 57.27%.
About PPG Industries
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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.
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