PPG Industries, Inc. (NYSE:PPG) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 744,994 shares of the specialty chemicals company’s stock after selling 60,868 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.32% of PPG Industries worth $98,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new stake in PPG Industries during the second quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. raised its holdings 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 purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the third quarter worth approximately $34,000. Rothschild Investment LLC acquired a new stake in PPG Industries during the second quarter worth approximately $37,000. Finally, Hara Capital LLC acquired a new stake in PPG Industries during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

PPG stock opened at $125.50 on Friday. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock’s 50 day simple moving average is $126.38 and its 200 day simple moving average is $126.88. 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 quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.07 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

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

Analyst Ratings Changes

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

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.