PPG Industries, Inc. (NYSE:PPG) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co cut its stake in PPG Industries, Inc. (NYSE:PPG) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,270 shares of the specialty chemicals company’s stock after selling 1,799 shares during the period. Fiduciary Trust Co’s holdings in PPG Industries were worth $2,950,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares in the last quarter. FMR LLC grew its stake in shares of PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after acquiring an additional 354,740 shares during the last quarter. International Assets Investment Management LLC boosted its stake in PPG Industries by 189.6% during the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after buying an additional 279,455 shares in the last quarter. Federated Hermes Inc. boosted its stake in PPG Industries by 91.0% during the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after buying an additional 249,406 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of PPG Industries by 549.0% in the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after purchasing an additional 216,675 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Royal Bank of Canada reduced their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Price Performance

PPG opened at $123.45 on Friday. The company has a fifty day simple moving average of $126.69 and a 200 day simple moving average of $127.20. The firm has a market cap of $28.64 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.89 and a beta of 1.26. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is presently 43.11%.

PPG Industries Company Profile

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.