Intrust Bank NA Trims Stock Position in PPG Industries, Inc. (NYSE:PPG)

Intrust Bank NA cut its position in PPG Industries, Inc. (NYSE:PPG) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,013 shares of the specialty chemicals company’s stock after selling 244 shares during the quarter. Intrust Bank NA’s holdings in PPG Industries were worth $240,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PPG. Beutel Goodman & Co Ltd. boosted its stake in PPG Industries by 0.3% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,338,384 shares of the specialty chemicals company’s stock valued at $398,770,000 after buying an additional 10,116 shares during the period. Allstate Corp purchased a new stake in shares of PPG Industries in the 4th quarter valued at about $870,000. DnB Asset Management AS boosted its position in shares of PPG Industries by 1.9% during the 4th quarter. DnB Asset Management AS now owns 50,726 shares of the specialty chemicals company’s stock valued at $6,059,000 after acquiring an additional 946 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of PPG Industries by 15.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 140,054 shares of the specialty chemicals company’s stock worth $16,729,000 after purchasing an additional 18,286 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of PPG Industries by 7.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 377,705 shares of the specialty chemicals company’s stock worth $45,117,000 after purchasing an additional 25,767 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Down 1.0 %

Shares of PPG Industries stock opened at $107.32 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52-week low of $105.64 and a 52-week high of $145.61. The company’s 50 day moving average price is $115.37 and its 200-day moving average price is $121.17. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analyst Ratings Changes

Several brokerages have issued reports on PPG. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Finally, The Goldman Sachs Group decreased their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.15.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.