PPG Industries, Inc. (NYSE:PPG) VP Jean-Marie Greindl sold 9,500 shares of PPG Industries stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total value of $1,100,005.00. Following the transaction, the vice president now directly owns 27,685 shares of the company’s stock, valued at $3,205,646.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
PPG Industries, Inc. (NYSE:PPG) traded up $1.60 during trading on Friday, hitting $117.46. The company had a trading volume of 738,536 shares, compared to its average volume of 1,439,101. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.66 and a quick ratio of 1.22. PPG Industries, Inc. has a fifty-two week low of $100.34 and a fifty-two week high of $122.07. The company has a market capitalization of $28,951.17, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.02 and a beta of 1.58.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts predict that PPG Industries, Inc. will post 6.57 EPS for the current fiscal year.
PPG Industries declared that its board has initiated a share buyback plan on Thursday, December 14th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $0.45 dividend. The ex-dividend date is Thursday, February 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. PPG Industries’s dividend payout ratio is 28.53%.
A number of research analysts have issued reports on the company. Raymond James Financial assumed coverage on PPG Industries in a report on Tuesday, December 19th. They set an “outperform” rating and a $139.00 price objective for the company. Atlantic Securities cut PPG Industries from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 17th. Wells Fargo & Co reissued a “market perform” rating and set a $120.00 price objective (up from $110.00) on shares of PPG Industries in a report on Tuesday, November 28th. They noted that the move was a valuation call. Northcoast Research reissued a “buy” rating and set a $128.00 price objective on shares of PPG Industries in a report on Friday, January 19th. Finally, Citigroup cut their price objective on PPG Industries from $128.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $123.75.
Several institutional investors have recently added to or reduced their stakes in PPG. Mutual of America Capital Management LLC raised its holdings in shares of PPG Industries by 2.1% in the third quarter. Mutual of America Capital Management LLC now owns 31,900 shares of the specialty chemicals company’s stock valued at $3,466,000 after buying an additional 660 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in PPG Industries in the third quarter worth about $728,000. APG Asset Management N.V. increased its position in PPG Industries by 6.2% in the third quarter. APG Asset Management N.V. now owns 521,238 shares of the specialty chemicals company’s stock worth $56,638,000 after purchasing an additional 30,540 shares during the period. Whittier Trust Co. increased its position in PPG Industries by 8.6% in the third quarter. Whittier Trust Co. now owns 13,411 shares of the specialty chemicals company’s stock worth $1,458,000 after purchasing an additional 1,061 shares during the period. Finally, BB&T Corp increased its position in PPG Industries by 8.0% in the third quarter. BB&T Corp now owns 24,674 shares of the specialty chemicals company’s stock worth $2,681,000 after purchasing an additional 1,819 shares during the period. 73.53% of the stock is owned by institutional investors and hedge funds.
About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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