Captrust Financial Advisors Sells 1,483 Shares of PPG Industries, Inc. (NYSE:PPG)

Captrust Financial Advisors decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,813 shares of the specialty chemicals company’s stock after selling 1,483 shares during the quarter. Captrust Financial Advisors’ holdings in PPG Industries were worth $2,492,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the 2nd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. boosted its stake in PPG Industries by 465.1% during the third 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 in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries in the 3rd quarter valued at $34,000. Rothschild Investment LLC bought a new position in shares of PPG Industries during the 2nd quarter worth about $37,000. Finally, Hara Capital LLC acquired a new stake in shares of PPG Industries during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $125.50 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $126.38 and a 200 day simple moving average of $126.88. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The firm has a market cap of $29.12 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.93 and a beta of 1.24.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 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 firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business posted $2.07 earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries 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 completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on PPG shares. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada cut their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

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.