Wilmington Savings Fund Society FSB Has $7.15 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Wilmington Savings Fund Society FSB boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 69.8% in the third quarter, HoldingsChannel reports. The firm owned 54,004 shares of the specialty chemicals company’s stock after acquiring an additional 22,198 shares during the period. Wilmington Savings Fund Society FSB’s holdings in PPG Industries were worth $7,153,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new position in shares of PPG Industries during the second quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in shares of PPG Industries in the 3rd quarter worth $34,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries during the second quarter worth $37,000. Finally, Hara Capital LLC acquired a new position in PPG Industries in the third quarter valued at about $40,000. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

PPG Industries Trading Up 1.2 %

PPG stock opened at $124.02 on Friday. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a market capitalization of $28.77 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.88 and a beta of 1.24. The company’s 50-day simple moving average is $125.74 and its 200 day simple moving average is $126.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) 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 business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the business posted $2.07 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s dividend payout ratio is 43.11%.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

PPG Industries 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.