6,458 PPG Industries, Inc. $PPG Shares Sold by Platform Technology Partners

Platform Technology Partners lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 63.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,642 shares of the specialty chemicals company’s stock after selling 6,458 shares during the quarter. Platform Technology Partners’ holdings in PPG Industries were worth $380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. BlackRock Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $2,856,392,000. Pzena Investment Management LLC purchased a new position in shares of PPG Industries in the 2nd quarter valued at about $946,964,000. Bank of New York Mellon Corp purchased a new position in shares of PPG Industries in the 2nd quarter valued at about $318,870,000. Bank of America Corp DE purchased a new position in shares of PPG Industries in the 2nd quarter valued at about $278,965,000. Finally, First Trust Advisors LP raised its holdings in PPG Industries by 321.4% in the 1st quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock worth $244,462,000 after purchasing an additional 1,744,528 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity

In other news, VP Chancey Hagerty sold 2,500 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total value of $317,850.00. Following the completion of the sale, the vice president directly owned 9,761 shares in the company, valued at $1,241,013.54. This represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and increased their price target for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Royal Bank Of Canada boosted their price objective on PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a research report on Thursday, October 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $137.00 target price on shares of PPG Industries in a research note on Thursday, October 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $128.00 target price on shares of PPG Industries in a research report on Friday, October 9th. Finally, UBS Group increased their target price on PPG Industries from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.29.

PPG Industries Price Performance

Shares of NYSE:PPG traded down $0.76 during trading on Friday, reaching $122.51. The stock had a trading volume of 1,458,098 shares, compared to its average volume of 2,043,655. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58. The business has a fifty day moving average price of $109.79 and a 200-day moving average price of $112.85. The stock has a market cap of $27.06 billion, a PE ratio of 17.50, a PEG ratio of 2.15 and a beta of 1.00. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.12 by $0.13. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.28 billion. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 earnings per share. On average, equities analysts forecast that PPG Industries, Inc. will post 7.98 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.4%. PPG Industries’s dividend payout ratio is presently 42.29%.

PPG Industries Company Profile

PPG Industries, Inc is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania.

PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.

The company serves customers in markets around the world, including through operations in the Americas, Europe, the Middle East, Africa and Asia Pacific.