PPG Industries, Inc. (NYSE:PPG) Shares Sold by First Western Trust Bank

First Western Trust Bank trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,996 shares of the specialty chemicals company’s stock after selling 163 shares during the quarter. First Western Trust Bank’s holdings in PPG Industries were worth $264,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vest Financial LLC grew its stake 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 valued at $42,516,000 after acquiring an additional 75,620 shares during the last quarter. BDF Gestion purchased a new position in shares of PPG Industries during the 2nd quarter worth approximately $3,452,000. Ritholtz Wealth Management acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $604,000. Swedbank AB lifted its stake in PPG Industries by 6.3% in the 2nd quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock valued at $19,986,000 after buying an additional 9,412 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in PPG Industries by 199.7% during the 1st quarter. iA Global Asset Management Inc. now owns 18,267 shares of the specialty chemicals company’s stock valued at $2,647,000 after buying an additional 12,171 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. 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 research note on Monday, October 21st. Citigroup cut their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada decreased their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Finally, Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $122.53 on Monday. The business has a 50-day moving average of $127.37 and a two-hundred day moving average of $127.78. The firm has a market capitalization of $28.43 billion, a PE ratio of 19.42, a P/E/G ratio of 1.87 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. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (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 analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.07 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. PPG Industries’s payout ratio is 43.11%.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by corporate insiders.

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.