PPG Industries, Inc. (NYSE:PPG – Get 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:PPG – Get 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
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
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.
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