Crossmark Global Holdings Inc. Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

Crossmark Global Holdings Inc. lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,431 shares of the specialty chemicals company’s stock after selling 129 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in PPG Industries were worth $1,514,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PPG. Royal Bank of Canada cut 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. Mizuho cut 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 note on Thursday, October 17th. UBS Group lifted their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Bank of America cut their price objective on 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, BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’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 in the company, valued at $1,692,513.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Stock Up 1.4 %

PPG opened at $123.41 on Thursday. 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, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The stock’s 50 day moving average price is $127.52 and its 200 day moving average price is $127.93. The stock has a market cap of $28.63 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.86 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 the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 EPS. As a group, research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

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.