Swiss National Bank Sells 300 Shares of PPG Industries, Inc. (NYSE:PPG)

Swiss National Bank reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 0.0% during the 3rd quarter, Holdings Channel reports. The fund owned 696,500 shares of the specialty chemicals company’s stock after selling 300 shares during the period. Swiss National Bank’s holdings in PPG Industries were worth $92,258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Insight Folios Inc raised its holdings in PPG Industries by 3.8% in the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after acquiring an additional 81 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in PPG Industries by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after acquiring an additional 82 shares during the period. Klingman & Associates LLC raised its holdings in PPG Industries by 2.6% in the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after acquiring an additional 83 shares during the period. Fragasso Financial Advisors Inc raised its holdings in PPG Industries by 0.6% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after acquiring an additional 84 shares during the period. Finally, SeaCrest Wealth Management LLC raised its holdings in PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after acquiring an additional 86 shares during the period. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PPG. KeyCorp lowered their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada lowered 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 report on Tuesday, October 22nd. Finally, Citigroup lowered their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $149.93.

Insider Activity

In other news, 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 transaction of $249,713.00. Following the completion of the transaction, the vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $123.42 on Tuesday. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. 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 firm has a market capitalization of $28.63 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.87 and a beta of 1.26. The company’s 50 day moving average price is $127.32 and its two-hundred day moving average price is $127.72.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

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.