PPG Industries, Inc. (NYSE:PPG) CEO Timothy M. Knavish Sells 4,800 Shares

PPG Industries, Inc. (NYSE:PPG) CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PPG Industries Stock Performance

Shares of PPG stock opened at $116.82 on Thursday. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $118.60 and its 200 day moving average is $123.29.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.33%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Institutional Investors Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its stake in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in PPG Industries during the 3rd quarter valued at about $34,000. Prudent Man Investment Management Inc. purchased a new stake in PPG Industries in the fourth quarter valued at about $36,000. Finally, Albion Financial Group UT acquired a new stake in PPG Industries in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PPG shares. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. The Goldman Sachs Group decreased their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Royal Bank of Canada decreased their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group cut their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.15.

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.