City State Bank Sells 250 Shares of PPG Industries, Inc. (NYSE:PPG)

City State Bank lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,590 shares of the specialty chemicals company’s stock after selling 250 shares during the quarter. City State Bank’s holdings in PPG Industries were worth $190,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after acquiring an additional 491,774 shares during the last quarter. Wellington Management Group LLP increased its position in PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after acquiring an additional 485,597 shares during the last quarter. Franklin Resources Inc. increased its position in PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after buying an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after buying an additional 368,410 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

NYSE:PPG opened at $114.66 on Tuesday. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.90 and a beta of 1.24. PPG Industries, Inc. has a 1 year low of $113.00 and a 1 year high of $145.86. The business has a 50 day simple moving average of $121.83 and a 200-day simple moving average of $124.98. 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 (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.07 earnings per share. Equities analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PPG shares. Royal Bank of Canada reduced their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. cut their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Mizuho cut their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

PPG Industries 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.