Insider Selling: PPG Industries, Inc. (NYSE:PPG) VP Sells 21,757 Shares of Stock

PPG Industries, Inc. (NYSE:PPGGet Rating) VP Anne M. Foulkes sold 21,757 shares of PPG Industries stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $128.33, for a total value of $2,792,075.81. Following the completion of the sale, the vice president now owns 10,577 shares of the company’s stock, valued at approximately $1,357,346.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

PPG Industries Stock Performance

Shares of NYSE PPG traded down $2.49 during trading on Wednesday, reaching $128.48. The stock had a trading volume of 622,975 shares, compared to its average volume of 1,536,005. PPG Industries, Inc. has a one year low of $107.06 and a one year high of $159.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.52. The stock has a market cap of $30.20 billion, a PE ratio of 29.59, a P/E/G ratio of 2.70 and a beta of 1.18. The firm’s 50 day moving average price is $129.61 and its two-hundred day moving average price is $124.03.

PPG Industries (NYSE:PPGGet Rating) last issued its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. PPG Industries had a return on equity of 22.95% and a net margin of 5.81%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the business earned $1.26 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts forecast that PPG Industries, Inc. will post 6.73 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 17th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $2.48 dividend on an annualized basis and a yield of 1.93%. PPG Industries’s payout ratio is currently 57.27%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PPG. Meyer Handelman Co. grew its stake in shares of PPG Industries by 0.3% in the fourth quarter. Meyer Handelman Co. now owns 192,214 shares of the specialty chemicals company’s stock worth $24,169,000 after purchasing an additional 615 shares in the last quarter. Daymark Wealth Partners LLC bought a new position in shares of PPG Industries in the fourth quarter worth $1,638,000. Whittier Trust Co. grew its stake in shares of PPG Industries by 5.2% in the fourth quarter. Whittier Trust Co. now owns 13,638 shares of the specialty chemicals company’s stock worth $1,715,000 after purchasing an additional 677 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of PPG Industries by 6.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 2,342 shares of the specialty chemicals company’s stock worth $312,000 after purchasing an additional 136 shares in the last quarter. Finally, Tarbox Family Office Inc. grew its stake in shares of PPG Industries by 2.1% in the fourth quarter. Tarbox Family Office Inc. now owns 26,514 shares of the specialty chemicals company’s stock worth $3,334,000 after purchasing an additional 555 shares in the last quarter. 80.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PPG has been the subject of several recent analyst reports. The Goldman Sachs Group started coverage on PPG Industries in a report on Thursday, October 13th. They issued a “buy” rating and a $145.00 price target for the company. Citigroup decreased their target price on PPG Industries from $139.00 to $138.00 in a report on Sunday. Credit Suisse Group boosted their target price on PPG Industries from $104.00 to $118.00 and gave the stock an “underperform” rating in a report on Friday, January 20th. Mizuho decreased their target price on PPG Industries from $146.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, January 12th. Finally, Wells Fargo & Company boosted their price target on PPG Industries from $115.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Hold” and an average target price of $135.55.

PPG Industries Company Profile

(Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

Further Reading

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