Bank of Stockton Sells 514 Shares of PPG Industries, Inc. (NYSE:PPG)

Bank of Stockton lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 9.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,828 shares of the specialty chemicals company’s stock after selling 514 shares during the period. Bank of Stockton’s holdings in PPG Industries were worth $640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after acquiring an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP lifted its stake in PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after acquiring an additional 368,410 shares during the period. Boston Partners lifted its stake in PPG Industries by 4.9% during the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock valued at $248,172,000 after acquiring an additional 80,710 shares during the period. ProShare Advisors LLC lifted its stake in PPG Industries by 12.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after acquiring an additional 152,719 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in shares of PPG Industries by 9.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock valued at $162,862,000 after purchasing an additional 100,391 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. BMO Capital Markets restated an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research report on Monday. Bank of America cut their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Mizuho dropped their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, KeyCorp dropped their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Trading Up 0.0 %

Shares of PPG traded up $0.01 during midday trading on Friday, hitting $127.25. The stock had a trading volume of 162,884 shares, compared to its average volume of 1,588,276. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The firm has a market cap of $29.52 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock’s 50 day moving average is $127.69 and its 200 day moving average is $128.83.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the company posted $2.07 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, analysts forecast that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

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.