4,875 PPG Industries, Inc. $PPG Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 57.9% during the third quarter, HoldingsChannel reports. The fund owned 3,538 shares of the specialty chemicals company’s stock after selling 4,875 shares during the quarter. Park Avenue Securities LLC’s holdings in PPG Industries were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PPG. Meeder Asset Management Inc. acquired a new position in PPG Industries in the 2nd quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of PPG Industries during the second quarter valued at about $28,000. Community Bank N.A. acquired a new stake in shares of PPG Industries during the second quarter valued at about $28,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of PPG Industries during the second quarter worth about $29,000. Finally, Silvant Capital Management LLC bought a new stake in shares of PPG Industries during the second quarter worth about $30,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on PPG Industries from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $128.00 target price on shares of PPG Industries in a research report on Friday, October 9th. KeyCorp boosted their target price on shares of PPG Industries from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Monday, September 14th. Finally, Barclays raised their price target on shares of PPG Industries from $136.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.29.

PPG Industries Trading Down 0.6%

NYSE PPG opened at $122.51 on Friday. The firm has a market capitalization of $27.06 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. The business’s 50-day moving average price is $109.79 and its two-hundred day moving average price is $112.85. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.13. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.28 billion. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.13 earnings per share. On average, analysts expect that PPG Industries, Inc. will post 7.98 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PPG Industries’s dividend payout ratio is currently 42.29%.

Insider Transactions at PPG Industries

In other PPG Industries news, VP Chancey Hagerty sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total transaction of $317,850.00. Following the completion of the transaction, the vice president owned 9,761 shares in the company, valued at approximately $1,241,013.54. This trade represents a 20.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

PPG Industries Profile

PPG Industries, Inc is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania.

PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.

The company serves customers in markets around the world, including through operations in the Americas, Europe, the Middle East, Africa and Asia Pacific.