PPG Industries, Inc. (NYSE:PPG) Shares Sold by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 54.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,566 shares of the specialty chemicals company’s stock after selling 4,248 shares during the period. Kesler Norman & Wride LLC’s holdings in PPG Industries were worth $426,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $27,000. Prudent Man Investment Management Inc. bought a new position in PPG Industries during the 4th quarter valued at $36,000. Albion Financial Group UT acquired a new position in shares of PPG Industries during the 4th quarter valued at $38,000. Crews Bank & Trust bought a new stake in shares of PPG Industries in the 4th quarter worth $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, UBS Group cut their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $138.15.

PPG Industries Stock Up 1.0 %

Shares of PPG Industries stock opened at $110.03 on Thursday. PPG Industries, Inc. has a 1 year low of $105.64 and a 1 year high of $143.98. The company has a market cap of $24.97 billion, a P/E ratio of 23.26, 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 stock has a 50-day moving average price of $114.61 and a 200 day moving average price of $120.85.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

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.