Commerce Bank Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

Commerce Bank reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,364 shares of the specialty chemicals company’s stock after selling 1,578 shares during the period. Commerce Bank’s holdings in PPG Industries were worth $3,625,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PPG. Pitcairn Co. increased its holdings in shares of PPG Industries by 16.3% in the first quarter. Pitcairn Co. now owns 1,623 shares of the specialty chemicals company’s stock valued at $235,000 after purchasing an additional 228 shares during the period. Shell Asset Management Co. acquired a new position in PPG Industries in the 1st quarter worth approximately $364,000. 1832 Asset Management L.P. raised its position in PPG Industries by 3,039.8% during the 1st quarter. 1832 Asset Management L.P. now owns 201,415 shares of the specialty chemicals company’s stock worth $29,185,000 after buying an additional 195,000 shares during the last quarter. LRI Investments LLC acquired a new stake in PPG Industries during the 1st quarter valued at approximately $53,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of PPG Industries by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 474,053 shares of the specialty chemicals company’s stock valued at $68,692,000 after acquiring an additional 3,448 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PPG. Royal Bank of Canada decreased 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 report on Tuesday, October 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho decreased their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Trading Down 0.0 %

Shares of PPG Industries stock opened at $122.65 on Friday. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The firm’s 50-day moving average price is $127.00 and its 200 day moving average price is $127.49. 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 firm has a market capitalization of $28.45 billion, a PE ratio of 19.44, a P/E/G ratio of 1.85 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the company posted $2.07 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business 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 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company’s stock.

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.