Anne M. Foulkes Sells 1,985 Shares of PPG Industries, Inc. (NYSE:PPG) Stock

PPG Industries, Inc. (NYSE:PPG) VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PPG Industries Trading Down 0.1 %

PPG Industries stock opened at $124.41 on Friday. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a market cap of $28.86 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.90 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $127.99 and a two-hundred day simple moving average of $128.28.

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

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PPG. Vest Financial LLC increased its holdings in PPG Industries by 28.9% in the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after acquiring an additional 75,620 shares in the last quarter. BDF Gestion purchased a new stake in shares of PPG Industries in the second quarter worth $3,452,000. State Board of Administration of Florida Retirement System raised its position in shares of PPG Industries by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after purchasing an additional 22,079 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 4,222,402 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in PPG Industries in the 3rd quarter worth $604,000. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Bank of America reduced their price target 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. KeyCorp lowered their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Citigroup reduced their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.93.

About PPG Industries

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.