CoreFirst Bank & Trust Invests $72,000 in PPG Industries, Inc. (NYSE:PPG)

CoreFirst Bank & Trust purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 600 shares of the specialty chemicals company’s stock, valued at approximately $72,000.

Several other large investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new stake in PPG Industries during the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. boosted its holdings in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the period. Albion Financial Group UT bought a new stake in shares of PPG Industries during the 4th quarter valued at about $38,000. Crews Bank & Trust acquired a new stake in PPG Industries during the fourth quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries during the fourth quarter worth about $44,000. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Mizuho lowered their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada dropped their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Trading Down 1.3 %

Shares of NYSE:PPG opened at $111.55 on Wednesday. The company has a 50 day moving average of $115.96 and a 200-day moving average of $121.52. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market cap of $25.32 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.44%. PPG Industries’s dividend payout ratio is currently 57.51%.

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.