PPG Industries, Inc. (NYSE:PPG) VP Sells $2,792,075.81 in Stock

PPG Industries, Inc. (NYSE:PPGGet Rating) VP Anne M. Foulkes sold 21,757 shares of the firm’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the completion of the sale, the vice president now directly owns 10,577 shares in the company, valued at approximately $1,357,346.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

PPG Industries Price Performance

Shares of PPG traded down $2.49 during mid-day trading on Wednesday, reaching $128.48. The stock had a trading volume of 622,975 shares, compared to its average volume of 1,536,005. The firm has a market cap of $30.20 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.70 and a beta of 1.18. PPG Industries, Inc. has a 12 month low of $107.06 and a 12 month high of $159.16. The business has a fifty day moving average of $129.61 and a 200 day moving average of $124.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.52.

PPG Industries (NYSE:PPGGet Rating) last issued its earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. PPG Industries had a net margin of 5.81% and a return on equity of 22.95%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. PPG Industries’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts predict that PPG Industries, Inc. will post 6.73 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $2.48 annualized dividend and a dividend yield of 1.93%. PPG Industries’s dividend payout ratio (DPR) is presently 57.27%.

Institutional Investors Weigh In On PPG Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Guardian Wealth Advisors LLC purchased a new position in PPG Industries during the 3rd quarter valued at about $27,000. Janiczek Wealth Management LLC purchased a new position in shares of PPG Industries in the 2nd quarter worth approximately $29,000. Tradition Wealth Management LLC purchased a new position in shares of PPG Industries in the 2nd quarter worth approximately $33,000. New England Asset Management Inc. purchased a new position in shares of PPG Industries in the 2nd quarter worth approximately $33,000. Finally, Parkside Financial Bank & Trust grew its position in shares of PPG Industries by 45.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 87 shares during the last quarter. Institutional investors own 80.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PPG shares. BNP Paribas lowered shares of PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research note on Monday. Barclays cut their target price on shares of PPG Industries from $150.00 to $130.00 in a research note on Tuesday, October 11th. Northcoast Research assumed coverage on shares of PPG Industries in a research note on Thursday, October 13th. They set a “neutral” rating on the stock. Wells Fargo & Company boosted their price objective on shares of PPG Industries from $115.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PPG Industries from $116.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $135.55.

About PPG Industries

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

Further Reading

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