PPG Industries, Inc. (NYSE:PPG) CEO Timothy M. Knavish Sells 4,800 Shares

PPG Industries, Inc. (NYSE:PPG) CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PPG Industries Price Performance

NYSE PPG opened at $119.26 on Wednesday. The business has a 50 day simple moving average of $118.84 and a 200 day simple moving average of $123.36. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market cap of $27.67 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Analysts anticipate that PPG Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PPG shares. Mizuho dropped their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays dropped their price objective on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. UBS Group lowered their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

Hedge Funds Weigh In On PPG Industries

A number of large investors have recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC boosted its holdings in shares of PPG Industries by 35.6% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,362 shares of the specialty chemicals company’s stock valued at $402,000 after buying an additional 882 shares during the last quarter. CSS LLC IL acquired a new stake in shares of PPG Industries in the 4th quarter valued at approximately $527,000. Ames National Corp acquired a new stake in shares of PPG Industries in the 4th quarter valued at approximately $549,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of PPG Industries by 12.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,114,461 shares of the specialty chemicals company’s stock valued at $252,572,000 after buying an additional 237,291 shares during the last quarter. Finally, Waverly Advisors LLC boosted its holdings in shares of PPG Industries by 45.2% in the 4th quarter. Waverly Advisors LLC now owns 2,581 shares of the specialty chemicals company’s stock valued at $308,000 after buying an additional 803 shares during the last quarter. Institutional investors and hedge funds own 81.86% 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.