Centiva Capital LP Sells 10,233 Shares of PPG Industries, Inc. (NYSE:PPG)

Centiva Capital LP cut its stake in PPG Industries, Inc. (NYSE:PPG) by 51.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,787 shares of the specialty chemicals company’s stock after selling 10,233 shares during the quarter. Centiva Capital LP’s holdings in PPG Industries were worth $1,296,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Arrowroot Family Office LLC bought a new position in shares of PPG Industries in the third quarter valued at about $202,000. Benjamin Edwards Inc. raised its position in shares of PPG Industries by 329.1% in the third quarter. Benjamin Edwards Inc. now owns 22,108 shares of the specialty chemicals company’s stock valued at $2,928,000 after purchasing an additional 16,956 shares during the period. Kestra Investment Management LLC bought a new position in shares of PPG Industries in the third quarter valued at about $355,000. Point72 Hong Kong Ltd raised its position in shares of PPG Industries by 83.7% in the third quarter. Point72 Hong Kong Ltd now owns 4,432 shares of the specialty chemicals company’s stock valued at $587,000 after purchasing an additional 2,019 shares during the period. Finally, Morton Community Bank raised its position in shares of PPG Industries by 0.9% in the third quarter. Morton Community Bank now owns 21,483 shares of the specialty chemicals company’s stock valued at $2,846,000 after purchasing an additional 200 shares during the period. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PPG. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 27th. 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 note on Thursday, October 17th. JPMorgan Chase & Co. decreased their price target 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. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Royal Bank of Canada decreased 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 research note on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

PPG Industries Stock Up 0.5 %

PPG stock opened at $126.83 on Thursday. The stock has a market capitalization of $29.42 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. 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, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The firm has a 50-day moving average price of $126.56 and a 200-day moving average price of $126.89.

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). The company had revenue of $4.58 billion during 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%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.07 EPS. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.14%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

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.