Banque Cantonale Vaudoise Reduces Position in PPG Industries, Inc. (NYSE:PPG)

Banque Cantonale Vaudoise cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 17.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,442 shares of the specialty chemicals company’s stock after selling 2,860 shares during the quarter. Banque Cantonale Vaudoise’s holdings in PPG Industries were worth $1,780,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Insight Folios Inc boosted its holdings in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares during the last quarter. Klingman & Associates LLC boosted its holdings in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 83 shares during the last quarter. Fragasso Financial Advisors Inc boosted its holdings in PPG Industries by 0.6% in the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after purchasing an additional 84 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its holdings in PPG Industries by 2.6% in the second quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after purchasing an additional 86 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada lowered their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Stock Up 0.2 %

PPG opened at $121.29 on Thursday. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $127.14 and a 200 day moving average price of $127.59. The company has a market cap of $28.14 billion, a PE ratio of 19.22, a price-to-earnings-growth 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 the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company earned $2.07 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.24%. PPG Industries’s payout ratio is 43.11%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by insiders.

PPG Industries 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.