Ferguson Wellman Capital Management Inc. Decreases Position in PPG Industries, Inc. (NYSE:PPG)

Ferguson Wellman Capital Management Inc. decreased its position in PPG Industries, Inc. (NYSE:PPG) by 18.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 209,718 shares of the specialty chemicals company’s stock after selling 47,953 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in PPG Industries were worth $27,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after acquiring an additional 4,222,402 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after purchasing an additional 368,410 shares in the last quarter. Boston Partners raised its position in shares of PPG Industries by 4.9% in the first quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock valued at $248,172,000 after purchasing an additional 80,710 shares during the period. ProShare Advisors LLC grew its stake in PPG Industries by 12.2% in the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after buying an additional 152,719 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of PPG Industries by 9.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock worth $162,862,000 after acquiring an additional 100,391 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Up 0.2 %

PPG Industries stock traded up $0.26 during mid-day trading on Thursday, hitting $123.68. The company’s stock had a trading volume of 37,864 shares, compared to its average volume of 1,581,631. The business has a 50 day moving average price of $127.45 and a 200-day moving average price of $127.90. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The stock has a market cap of $28.69 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.26. 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 (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.07 earnings per share. As a group, analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared 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 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. KeyCorp reduced their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Bank of America lowered their target price 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. Finally, UBS Group upped their price target on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.93.

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.