CENTRAL TRUST Co Trims Stock Position in PPG Industries, Inc. (NYSE:PPG)

CENTRAL TRUST Co lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,200 shares of the specialty chemicals company’s stock after selling 2,365 shares during the period. CENTRAL TRUST Co’s holdings in PPG Industries were worth $1,483,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PPG. Vest Financial LLC boosted its holdings in PPG Industries by 28.9% in the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after purchasing an additional 75,620 shares in the last quarter. BDF Gestion purchased a new stake in shares of PPG Industries in the second quarter valued at approximately $3,452,000. State Board of Administration of Florida Retirement System grew its holdings in PPG Industries by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock worth $36,620,000 after acquiring an additional 22,079 shares during the period. Vanguard Group Inc. raised its position 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 worth $4,159,074,000 after acquiring an additional 4,222,402 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in PPG Industries by 188.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 10,074 shares of the specialty chemicals company’s stock valued at $1,460,000 after acquiring an additional 6,584 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPG has been the topic of a number of recent analyst reports. KeyCorp lowered 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. Barclays dropped their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada reduced their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Mizuho reduced their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Trading Down 0.6 %

PPG Industries stock opened at $126.45 on Friday. The stock has a 50-day moving average price of $127.79 and a 200 day moving average price of $128.82. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The stock has a market cap of $29.65 billion, a PE ratio of 21.36, a P/E/G ratio of 1.94 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 issued its quarterly 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 firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.07 earnings per share. Equities research analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 45.95%.

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.