PPG Industries, Inc. (NYSE:PPG) Shares Sold by Strs Ohio

Strs Ohio lowered its position in PPG Industries, Inc. (NYSE:PPG) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,019 shares of the specialty chemicals company’s stock after selling 1,657 shares during the quarter. Strs Ohio’s holdings in PPG Industries were worth $18,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of PPG Industries during the third quarter worth approximately $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of PPG Industries during the fourth quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its stake in shares of PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 153 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of PPG Industries during the fourth quarter worth approximately $28,000. Finally, Harbour Investments Inc. raised its stake in shares of PPG Industries by 84.9% during the first quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 1.1 %

PPG Industries stock opened at $133.52 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The firm has a market capitalization of $31.43 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The stock’s fifty day moving average is $140.69 and its two-hundred day moving average is $138.93.

PPG Industries (NYSE:PPG) last posted its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.04. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. PPG Industries’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 earnings per share. Analysts predict that PPG Industries, Inc. will post 8.46 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Thursday, February 15th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, February 15th. PPG Industries’s payout ratio is currently 48.69%.

Analysts Set New Price Targets

Several research firms have recently commented on PPG. Robert W. Baird restated an “outperform” rating and set a $150.00 price target on shares of PPG Industries in a research note on Friday, January 19th. Royal Bank of Canada cut their price target on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a research note on Monday, January 22nd. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Citigroup cut their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, KeyCorp cut their price objective on PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.40.

Insider Activity at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% 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.