PPG Industries, Inc. (NYSE:PPG) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. decreased its stake in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,307 shares of the specialty chemicals company’s stock after selling 84 shares during the period. Central Bank & Trust Co.’s holdings in PPG Industries were worth $189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Advisory Services LLC increased its position in shares of PPG Industries by 49.8% in the third quarter. Kestra Advisory Services LLC now owns 14,412 shares of the specialty chemicals company’s stock worth $1,871,000 after acquiring an additional 4,792 shares in the last quarter. QRG Capital Management Inc. bought a new stake in PPG Industries in the 3rd quarter valued at about $677,000. Envestnet Portfolio Solutions Inc. bought a new stake in PPG Industries in the 3rd quarter valued at about $1,357,000. Envestnet Asset Management Inc. increased its stake in PPG Industries by 75.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 342,195 shares of the specialty chemicals company’s stock valued at $44,417,000 after buying an additional 147,291 shares during the period. Finally, FMR LLC increased its stake in PPG Industries by 11.0% during the 3rd quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock valued at $46,512,000 after buying an additional 35,571 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Up 0.1 %

Shares of PPG traded up $0.13 during midday trading on Friday, hitting $128.59. The stock had a trading volume of 1,971,814 shares, compared to its average volume of 1,293,349. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The business has a 50-day simple moving average of $131.56 and a two-hundred day simple moving average of $139.05. The firm has a market cap of $30.15 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.59 and a beta of 1.28. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPGGet Free Report) last announced its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting the consensus estimate of $1.86. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company posted $1.82 earnings per share. As a group, equities analysts forecast that PPG Industries, Inc. will post 8.44 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 10th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s dividend payout ratio is currently 43.92%.

PPG Industries announced that its board has initiated a share buyback plan on Thursday, April 18th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

PPG has been the topic of several research analyst reports. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Barclays lowered their target price on shares of PPG Industries from $149.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Bank of America lowered their target price on shares of PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Evercore ISI cut shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price on the stock. in a research note on Monday, April 22nd. Finally, Seaport Res Ptn raised shares of PPG Industries from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $155.47.

Get Our Latest Research Report on PPG

Insider Buying and Selling

In related news, CEO Timothy M. Knavish purchased 2,061 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the acquisition, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,774,388.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

About PPG Industries

(Free Report)

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.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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