PPG Industries, Inc. $PPG Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. decreased its stake in PPG Industries, Inc. (NYSE:PPG) by 6.9% in the third quarter, Holdings Channel.com reports. The firm owned 3,005,809 shares of the specialty chemicals company’s stock after selling 221,485 shares during the period. PPG Industries comprises about 2.5% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 8th biggest position. Beutel Goodman & Co Ltd.’s holdings in PPG Industries were worth $313,596,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PPG. Kestra Investment Management LLC purchased a new position in PPG Industries during the third quarter worth $265,000. AlphaCore Capital LLC raised its stake in shares of PPG Industries by 249.2% in the third quarter. AlphaCore Capital LLC now owns 6,362 shares of the specialty chemicals company’s stock valued at $664,000 after acquiring an additional 4,540 shares during the period. Fulcrum Asset Management LLP raised its stake in shares of PPG Industries by 112,890.0% in the third quarter. Fulcrum Asset Management LLP now owns 22,598 shares of the specialty chemicals company’s stock valued at $2,396,000 after acquiring an additional 22,578 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of PPG Industries by 15.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,686 shares of the specialty chemicals company’s stock worth $1,223,000 after acquiring an additional 1,584 shares during the last quarter. Finally, Avantax Planning Partners Inc. lifted its holdings in shares of PPG Industries by 4.8% in the 3rd quarter. Avantax Planning Partners Inc. now owns 7,357 shares of the specialty chemicals company’s stock worth $768,000 after acquiring an additional 335 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PPG shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $128.00 price target on shares of PPG Industries in a research note on Friday, October 9th. KeyCorp increased their price objective on shares of PPG Industries from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Royal Bank Of Canada raised their price objective on shares of PPG Industries from $115.00 to $123.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 29th. Finally, Wells Fargo & Company boosted their target price on PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $128.29.

PPG Industries Trading Up 2.3%

Shares of NYSE PPG opened at $125.19 on Tuesday. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The firm has a market cap of $27.66 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The business has a fifty day simple moving average of $110.02 and a two-hundred day simple moving average of $112.91. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.71.

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

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be given 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 yield of 2.4%. PPG Industries’s dividend payout ratio (DPR) is 42.29%.

Insider Buying and Selling

In other news, VP Chancey Hagerty sold 2,500 shares of the business’s 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 owned 9,761 shares in the company, valued at approximately $1,241,013.54. The trade was a 20.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

PPG Industries 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.