Morton Community Bank Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

Morton Community Bank grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,053 shares of the specialty chemicals company’s stock after acquiring an additional 570 shares during the period. Morton Community Bank’s holdings in PPG Industries were worth $2,634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Summit Global Investments purchased a new stake in PPG Industries during the 3rd quarter valued at approximately $299,000. Capital Performance Advisors LLP bought a new position in shares of PPG Industries during the third quarter worth $34,000. Leavell Investment Management Inc. boosted its position in shares of PPG Industries by 5.4% during the third quarter. Leavell Investment Management Inc. now owns 2,915 shares of the specialty chemicals company’s stock worth $386,000 after acquiring an additional 150 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of PPG Industries during the third quarter worth $1,012,000. Finally, SpiderRock Advisors LLC boosted its position in shares of PPG Industries by 9.8% during the third quarter. SpiderRock Advisors LLC now owns 7,259 shares of the specialty chemicals company’s stock worth $962,000 after acquiring an additional 649 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.1 %

Shares of PPG opened at $115.47 on Monday. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The company has a market cap of $26.21 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $116.82 and its 200-day simple moving average is $122.75.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PPG. UBS Group dropped their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Mizuho dropped their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $138.15.

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.