PPG Industries, Inc. (NYSE:PPG) Chairman Sells $8,040,235.32 in Stock

PPG Industries, Inc. (NYSE:PPG – Get Rating) Chairman Michael H. Mcgarry sold 61,867 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total value of $8,040,235.32. Following the completion of the sale, the chairman now directly owns 183,645 shares in the company, valued at approximately $23,866,504.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

PPG Industries Trading Down 2.8 %

Shares of PPG opened at $130.73 on Friday. The stock has a fifty day moving average price of $129.54 and a two-hundred day moving average price of $124.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.52. PPG Industries, Inc. has a 52-week low of $107.06 and a 52-week high of $157.55. The company has a market cap of $30.73 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 2.88 and a beta of 1.18.

PPG Industries (NYSE:PPG – Get Rating) last issued its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.08. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a return on equity of 22.95% and a net margin of 5.81%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. Analysts predict that PPG Industries, Inc. will post 6.49 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be paid a $0.62 dividend. The ex-dividend date is Thursday, February 16th. This represents a $2.48 annualized dividend and a dividend yield of 1.90%. PPG Industries’s dividend payout ratio (DPR) is currently 57.27%.

Institutional Investors Weigh In On PPG Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. WFA of San Diego LLC acquired a new stake in shares of PPG Industries in the 4th quarter valued at $25,000. Janiczek Wealth Management LLC acquired a new stake in shares of PPG Industries in the 2nd quarter valued at $29,000. Riverview Trust Co increased its stake in shares of PPG Industries by 81.7% in the 4th quarter. Riverview Trust Co now owns 238 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 107 shares during the period. Guardian Wealth Advisors LLC acquired a new stake in shares of PPG Industries in the 3rd quarter valued at $27,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 87 shares during the period. 80.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PPG. Credit Suisse Group lifted their price objective on PPG Industries from $104.00 to $118.00 and gave the stock an “underperform” rating in a report on Friday, January 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on PPG Industries from $128.00 to $145.00 in a report on Monday, January 23rd. JPMorgan Chase & Co. lifted their price objective on PPG Industries from $116.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. BNP Paribas lowered PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a report on Monday, January 23rd. Finally, Argus lifted their price objective on PPG Industries from $144.00 to $149.00 in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and a consensus target price of $135.55.

About PPG Industries

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, and architectural coatings businesses.