FineMark National Bank & Trust Sells 200 Shares of PPG Industries, Inc. (NYSE:PPG)

FineMark National Bank & Trust lowered its position in PPG Industries, Inc. (NYSE:PPG) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,258 shares of the specialty chemicals company’s stock after selling 200 shares during the quarter. FineMark National Bank & Trust’s holdings in PPG Industries were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. PUREfi Wealth LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $279,000. PFW Advisors LLC bought a new stake in PPG Industries during the fourth quarter valued at approximately $868,000. JGP Wealth Management LLC purchased a new stake in PPG Industries during the fourth quarter valued at approximately $4,050,000. Avanza Fonder AB bought a new position in PPG Industries in the fourth quarter worth approximately $2,944,000. Finally, Quadrature Capital Ltd purchased a new position in shares of PPG Industries during the 3rd quarter worth $617,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PPG. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Mizuho lowered their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Citigroup decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group dropped their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $138.15.

PPG Industries Stock Down 1.3 %

Shares of PPG opened at $111.55 on Wednesday. The business’s 50 day simple moving average is $115.96 and its 200-day simple moving average is $121.52. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. 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 has a market capitalization of $25.32 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

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

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a $0.68 dividend. The ex-dividend date of this dividend 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%.

Insiders Place Their Bets

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

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.