PPG Industries, Inc. (NYSE:PPG) Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 9.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 21,600 shares of the specialty chemicals company’s stock after selling 2,269 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in PPG Industries were worth $2,862,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Insight Folios Inc raised its stake in shares of 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. J.W. Cole Advisors Inc. increased its holdings in PPG Industries by 6.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,308 shares of the specialty chemicals company’s stock valued at $1,630,000 after purchasing an additional 701 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in PPG Industries by 9.1% in the third quarter. Frank Rimerman Advisors LLC now owns 1,826 shares of the specialty chemicals company’s stock valued at $242,000 after purchasing an additional 152 shares during the period. Mattern Capital Management LLC lifted its stake in shares of PPG Industries by 1.6% during the third quarter. Mattern Capital Management LLC now owns 60,667 shares of the specialty chemicals company’s stock worth $8,036,000 after purchasing an additional 950 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of PPG Industries by 10.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,061,312 shares of the specialty chemicals company’s stock worth $140,276,000 after buying an additional 98,941 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPG has been the topic of several analyst reports. KeyCorp reduced their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Citigroup reduced their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Bank of America lowered their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Barclays cut their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Finally, Royal Bank of Canada lowered their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Performance

PPG Industries stock opened at $127.39 on Tuesday. 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. The company has a fifty day moving average price of $127.96 and a two-hundred day moving average price of $128.49. The company has a market cap of $29.55 billion, a PE ratio of 20.19, a P/E/G ratio of 1.93 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. Research analysts expect that PPG Industries, Inc. will post 8.19 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 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.