Verity & Verity LLC Sells 135 Shares of PPG Industries, Inc. (NYSE:PPG)

Verity & Verity LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 1.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 10,205 shares of the specialty chemicals company’s stock after selling 135 shares during the period. Verity & Verity LLC’s holdings in PPG Industries were worth $1,352,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after buying an additional 368,410 shares during the period. International Assets Investment Management LLC grew its stake in PPG Industries by 189.6% in the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after purchasing an additional 279,455 shares during the last quarter. Federated Hermes Inc. raised its holdings in PPG Industries by 91.0% in the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after purchasing an additional 249,406 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after buying an additional 216,675 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in shares of PPG Industries by 3,039.8% in the 1st quarter. 1832 Asset Management L.P. now owns 201,415 shares of the specialty chemicals company’s stock valued at $29,185,000 after buying an additional 195,000 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.7 %

Shares of NYSE:PPG opened at $123.42 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The business has a 50 day moving average of $127.32 and a two-hundred day moving average of $127.72. The company has a market capitalization of $28.63 billion, a PE ratio of 19.56, a PEG ratio of 1.87 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company posted $2.07 earnings per share. As a group, analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed 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 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Mizuho decreased their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Bank of America dropped their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. KeyCorp decreased their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. dropped their target price 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. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

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.