PPG Industries, Inc. (NYSE:PPG) Shares Sold by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,519 shares of the specialty chemicals company’s stock after selling 103 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in PPG Industries were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PPG. Quest Partners LLC grew its holdings in PPG Industries by 90.1% during the third quarter. Quest Partners LLC now owns 5,179 shares of the specialty chemicals company’s stock worth $686,000 after acquiring an additional 2,455 shares during the period. MAI Capital Management lifted its stake in shares of PPG Industries by 88.7% in the third quarter. MAI Capital Management now owns 6,319 shares of the specialty chemicals company’s stock valued at $837,000 after purchasing an additional 2,970 shares during the period. Equity Investment Corp lifted its position in shares of PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after acquiring an additional 42,380 shares during the period. Aljian Capital Management LLC purchased a new stake in shares of PPG Industries during the 3rd quarter worth approximately $455,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of PPG Industries by 9.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 26,493 shares of the specialty chemicals company’s stock worth $3,509,000 after acquiring an additional 2,202 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the 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 transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PPG Industries Trading Up 0.7 %

Shares of PPG opened at $123.42 on Tuesday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The stock has a 50-day moving average price of $127.32 and a 200 day moving average price of $127.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company 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.

PPG Industries (NYSE:PPG) last released its quarterly 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). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.07 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. 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.