PPG Industries, Inc. (NYSE:PPG) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,711 shares of the specialty chemicals company’s stock after selling 7,982 shares during the period. Capital Investment Advisors LLC’s holdings in PPG Industries were worth $8,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC lifted its holdings in shares of PPG Industries by 0.9% during the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after purchasing an additional 76 shares during the last quarter. Applied Capital LLC FL lifted its stake in PPG Industries by 1.3% in the 1st quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after acquiring an additional 82 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in PPG Industries by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after acquiring an additional 82 shares in the last quarter. Klingman & Associates LLC lifted its stake in PPG Industries by 2.6% in the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares in the last quarter. Finally, Fragasso Financial Advisors Inc lifted its stake in PPG Industries by 0.6% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after acquiring an additional 84 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PPG. Bank of America reduced their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday. Royal Bank of Canada reduced their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. KeyCorp reduced their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Citigroup reduced their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.50.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $130.93 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The firm has a market cap of $30.55 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.73 and a beta of 1.26. The business’s 50-day simple moving average is $127.21 and its 200-day simple moving average is $129.19. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 EPS. As a group, equities research analysts expect that PPG Industries, Inc. will post 8.24 earnings per share 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. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is 44.59%.

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.