Glenview Trust co Sells 1,000 Shares of PPG Industries, Inc. (NYSE:PPG)

Glenview Trust co trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,132 shares of the specialty chemicals company’s stock after selling 1,000 shares during the quarter. Glenview Trust co’s holdings in PPG Industries were worth $2,046,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP lifted its holdings in shares of PPG Industries by 41.9% in the 3rd quarter. GSA Capital Partners LLP now owns 5,309 shares of the specialty chemicals company’s stock worth $703,000 after buying an additional 1,568 shares during the period. Aigen Investment Management LP bought a new position in PPG Industries during the 3rd quarter worth about $211,000. Aptus Capital Advisors LLC purchased a new position in PPG Industries during the 3rd quarter valued at about $326,000. OneDigital Investment Advisors LLC raised its holdings in shares of PPG Industries by 13.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,895 shares of the specialty chemicals company’s stock valued at $781,000 after purchasing an additional 677 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of PPG Industries by 7.5% in the 3rd quarter. CIBC Asset Management Inc now owns 34,101 shares of the specialty chemicals company’s stock worth $4,517,000 after purchasing an additional 2,382 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 2.1 %

PPG opened at $113.65 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The company has a market cap of $25.80 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a 50-day moving average price of $116.36 and a 200 day moving average price of $122.26.

PPG Industries (NYSE:PPG) last issued 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%. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. PPG Industries’s payout ratio is presently 57.51%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Citigroup reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Finally, Mizuho lowered their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $138.15.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The stock was 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 of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.