Sentry Investment Management LLC Acquires 539 Shares of PPG Industries, Inc. (NYSE:PPG)

Sentry Investment Management LLC lifted its holdings in PPG Industries, Inc. (NYSE:PPG) by 92.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,120 shares of the specialty chemicals company’s stock after purchasing an additional 539 shares during the quarter. Sentry Investment Management LLC’s holdings in PPG Industries were worth $148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PPG. Financial Connections Group Inc. purchased a new stake in PPG Industries in the second quarter worth approximately $25,000. Rothschild Investment LLC bought a new stake in shares of PPG Industries in the second quarter worth $37,000. LRI Investments LLC increased its position in PPG Industries by 463.8% during the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the last quarter. Slocum Gordon & Co LLP lifted its holdings in PPG Industries by 51.7% in the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock valued at $57,000 after acquiring an additional 155 shares during the period. Finally, DiNuzzo Private Wealth Inc. boosted its position in PPG Industries by 103.6% in the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 203 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s 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 sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PPG. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Bank of America cut their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Citigroup decreased their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Barclays cut their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Trading Down 0.2 %

Shares of PPG stock opened at $124.64 on Wednesday. The stock’s 50-day moving average price is $127.90 and its 200-day moving average price is $128.12. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The stock has a market capitalization of $28.92 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS 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 firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts predict that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend 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.