PPG Industries, Inc. (NYSE:PPG) Shares Sold by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,740 shares of the specialty chemicals company’s stock after selling 2,092 shares during the period. Fort Pitt Capital Group LLC’s holdings in PPG Industries were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PPG. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries in the 2nd quarter worth approximately $25,000. Rothschild Investment LLC acquired a new stake in PPG Industries during the second quarter valued at approximately $37,000. LRI Investments LLC lifted its stake in PPG Industries by 463.8% during the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 320 shares during the last quarter. Slocum Gordon & Co LLP lifted its stake in PPG Industries by 51.7% during the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock valued at $57,000 after purchasing an additional 155 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. lifted its stake in PPG Industries by 103.6% during the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 203 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG opened at $124.41 on Friday. The company’s fifty day moving average is $127.99 and its 200-day moving average is $128.28. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The firm has a market cap of $28.86 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26. 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 (NYSE:PPG) last announced its quarterly 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 return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company earned $2.07 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts expect that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.19%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PPG. BMO Capital Markets reissued an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada cut their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. KeyCorp cut their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Barclays cut their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $149.93.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were 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 approximately $1,692,513.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by company 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.