Charles Schwab Trust Co Decreases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Charles Schwab Trust Co decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 11.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,733 shares of the specialty chemicals company’s stock after selling 227 shares during the period. Charles Schwab Trust Co’s holdings in PPG Industries were worth $251,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PPG. Valued Wealth Advisors LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. grew its stake in shares of PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 153 shares during the period. Private Wealth Management Group LLC bought a new position in shares of PPG Industries during the 4th quarter valued at approximately $27,000. CVA Family Office LLC purchased a new position in PPG Industries in the 4th quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in PPG Industries in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish acquired 2,061 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,774,388.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on PPG shares. BMO Capital Markets decreased their price objective on PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd. Evercore ISI lowered PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price target on the stock. in a report on Monday, April 22nd. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $155.47.

PPG Industries Price Performance

PPG opened at $125.23 on Wednesday. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $131.26 and its 200-day simple moving average is $138.77. The company has a market capitalization of $29.37 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.59 and a beta of 1.28.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that PPG Industries, Inc. will post 8.44 earnings per share for the current fiscal year.

PPG Industries announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

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.