PPG Industries, Inc. (NYSE:PPG) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC decreased its position in PPG Industries, Inc. (NYSE:PPG) by 20.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,841 shares of the specialty chemicals company’s stock after selling 2,070 shares during the quarter. D.B. Root & Company LLC’s holdings in PPG Industries were worth $1,039,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vest Financial LLC raised its holdings in PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares in the last quarter. BDF Gestion purchased a new position in PPG Industries in the second quarter valued at approximately $3,452,000. State Board of Administration of Florida Retirement System increased its stake in PPG Industries by 8.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after purchasing an additional 22,079 shares during the last quarter. Vanguard Group Inc. increased its stake in PPG Industries by 17.2% in the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in PPG Industries in the third quarter valued at approximately $604,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PPG shares. KeyCorp dropped their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Bank of America dropped their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note 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 research 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 research report on Thursday, October 17th. Finally, Barclays lowered their target price on shares of 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. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Performance

NYSE:PPG opened at $125.78 on Thursday. The firm’s fifty day moving average price is $127.86 and its 200 day moving average price is $128.10. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year 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 cap of $29.18 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.91 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the business earned $2.07 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was 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 of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by corporate insiders.

About PPG Industries

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.