Rosenberg Matthew Hamilton Sells 109 Shares of PPG Industries, Inc. (NYSE:PPG)

Rosenberg Matthew Hamilton lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 12.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 739 shares of the specialty chemicals company’s stock after selling 109 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in PPG Industries were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vest Financial LLC raised its stake in PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after acquiring an additional 75,620 shares during the period. BDF Gestion bought a new stake in shares of PPG Industries during the 2nd quarter valued at $3,452,000. State Board of Administration of Florida Retirement System lifted its stake in shares of PPG Industries by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after buying an additional 22,079 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after buying an additional 4,222,402 shares during the period. Finally, Ritholtz Wealth Management purchased a new stake in PPG Industries in the 3rd quarter worth $604,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PPG has been the topic of several research analyst reports. Barclays lowered their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. KeyCorp dropped their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective 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. Mizuho dropped their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, UBS Group lifted their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Trading Down 0.9 %

Shares of NYSE PPG opened at $124.51 on Friday. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business’s 50 day moving average is $128.03 and its two-hundred day moving average is $128.39. The stock has a market capitalization of $28.89 billion, a P/E ratio of 19.73, a PEG ratio of 1.92 and a beta of 1.26.

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 the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 EPS. As a group, research analysts expect that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

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.