PPG Industries, Inc. $PPG Stock: Monte Financial Group LLC Decreases Holdings

Monte Financial Group LLC cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,292 shares of the specialty chemicals company’s stock after selling 6,829 shares during the period. Monte Financial Group LLC’s holdings in PPG Industries were worth $4,830,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Essential Partners LLC boosted its position in shares of PPG Industries by 59.3% during the 1st quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in PPG Industries by 6.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company’s stock worth $244,000 after purchasing an additional 114 shares in the last quarter. Ancora Advisors LLC increased its holdings in PPG Industries by 36.5% in the second quarter. Ancora Advisors LLC now owns 430 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 115 shares in the last quarter. Glenview Trust Co increased its holdings in PPG Industries by 0.8% in the third quarter. Glenview Trust Co now owns 16,047 shares of the specialty chemicals company’s stock worth $1,674,000 after purchasing an additional 125 shares in the last quarter. Finally, Wealth Alliance LLC lifted its stake in PPG Industries by 2.8% in the first quarter. Wealth Alliance LLC now owns 5,125 shares of the specialty chemicals company’s stock valued at $548,000 after buying an additional 139 shares during the period. 81.86% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Chancey Hagerty sold 2,500 shares of PPG Industries stock in a transaction on 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. This trade represents a 20.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PPG shares. KeyCorp increased their price target on PPG Industries from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Barclays lifted their price objective on shares of PPG Industries from $136.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. UBS Group boosted their target price 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. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $128.00 price target on shares of PPG Industries in a report on Friday, October 9th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $128.29.

PPG Industries Stock Down 3.0%

PPG stock opened at $123.42 on Friday. The stock’s 50 day simple moving average is $109.61 and its 200 day simple moving average is $112.78. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58. The company has a market cap of $27.26 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00.

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

PPG Industries Dividend Announcement

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

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.