PPG Industries, Inc. (NYSE:PPG) Shares Sold by Leisure Capital Management

Leisure Capital Management decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,028 shares of the specialty chemicals company’s stock after selling 108 shares during the quarter. Leisure Capital Management’s holdings in PPG Industries were worth $752,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $25,000. Valued Wealth Advisors LLC purchased a new position in PPG Industries during the fourth quarter valued at $26,000. SJS Investment Consulting Inc. lifted its holdings in PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $28,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of PPG Industries during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PPG shares. Wolfe Research began coverage on PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. KeyCorp dropped their price target on PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Citigroup reduced their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Robert W. Baird reaffirmed an “outperform” rating and set a $150.00 target price on shares of PPG Industries in a research note on Friday, January 19th. Finally, Bank of America reduced their target price on shares of PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $155.47.

PPG Industries Trading Up 0.7 %

NYSE:PPG traded up $0.93 during trading hours on Friday, reaching $130.16. 1,370,846 shares of the stock were exchanged, compared to its average volume of 1,730,382. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a quick ratio of 1.05, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average of $139.31 and a two-hundred day moving average of $138.86. The company has a market capitalization of $30.52 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.60 and a beta of 1.28.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting analysts’ consensus estimates 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 return on equity of 22.98% and a net margin of 7.74%. PPG Industries’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. On average, equities analysts predict that PPG Industries, Inc. will post 8.45 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s payout ratio is currently 43.92%.

PPG Industries declared that its Board of Directors 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 repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is currently owned by corporate insiders.

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.