5,100 PPG Industries, Inc. $PPG Shares Sold by SBK Financial Inc.

SBK Financial Inc. lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 66.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,594 shares of the specialty chemicals company’s stock after selling 5,100 shares during the quarter. SBK Financial Inc.’s holdings in PPG Industries were worth $271,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Meeder Asset Management Inc. purchased a new position in PPG Industries in the 2nd quarter worth approximately $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of PPG Industries during the second quarter valued at approximately $28,000. Community Bank N.A. purchased a new stake in shares of PPG Industries during the second quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of PPG Industries during the second quarter worth $29,000. Finally, Silvant Capital Management LLC acquired a new position in shares of PPG Industries during the second quarter worth $30,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of PPG opened at $123.42 on Friday. The firm has a market cap of $27.26 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 2.19 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $109.61 and its two-hundred day moving average is $112.78. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43.

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

PPG Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PPG shares. JPMorgan Chase & Co. upped their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Wells Fargo & Company boosted their price objective on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $115.00 to $123.00 and gave the stock a “sector perform” rating in a report on Thursday, October 29th. Finally, UBS Group upped their price objective on shares of PPG Industries from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.29.

Insider Buying and Selling at PPG Industries

In other news, VP Chancey Hagerty sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total value of $317,850.00. Following the completion of the sale, the vice president owned 9,761 shares of the company’s stock, valued at approximately $1,241,013.54. The trade was a 20.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

PPG Industries Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.