PPG Industries, Inc. (NYSE:PPG) Shares Sold by FORA Capital LLC

FORA Capital LLC lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.4% during the third quarter, HoldingsChannel reports. The firm owned 44,970 shares of the specialty chemicals company’s stock after selling 633 shares during the period. FORA Capital LLC’s holdings in PPG Industries were worth $5,957,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in PPG Industries by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 474,053 shares of the specialty chemicals company’s stock valued at $68,692,000 after buying an additional 3,448 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in PPG Industries by 0.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 27,878 shares of the specialty chemicals company’s stock valued at $4,040,000 after purchasing an additional 171 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in PPG Industries by 29.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,054 shares of the specialty chemicals company’s stock worth $732,000 after purchasing an additional 1,158 shares during the last quarter. California State Teachers Retirement System raised its position in shares of PPG Industries by 3.8% in the 1st quarter. California State Teachers Retirement System now owns 427,262 shares of the specialty chemicals company’s stock valued at $61,910,000 after purchasing an additional 15,701 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of PPG Industries by 145.0% during the 1st quarter. Tidal Investments LLC now owns 23,584 shares of the specialty chemicals company’s stock valued at $3,417,000 after buying an additional 13,959 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. cut 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 note on Friday, October 18th. 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. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Performance

NYSE PPG traded up $0.76 during trading hours on Wednesday, hitting $124.11. The company had a trading volume of 62,615 shares, compared to its average volume of 1,573,085. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market cap of $28.79 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The business has a fifty day simple moving average of $126.88 and a 200-day simple moving average of $127.25.

PPG Industries (NYSE:PPG) last posted its 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). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts predict 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. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.