PPG Industries, Inc. (NYSE:PPG) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 3.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 45,865 shares of the specialty chemicals company’s stock after selling 1,617 shares during the period. Amalgamated Bank’s holdings in PPG Industries were worth $6,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vest Financial LLC lifted its holdings in shares of PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after purchasing an additional 75,620 shares in the last quarter. BDF Gestion purchased a new stake in PPG Industries in the 2nd quarter valued at approximately $3,452,000. State Board of Administration of Florida Retirement System grew its holdings in PPG Industries by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after buying an additional 22,079 shares during the last quarter. Vanguard Group Inc. increased its position in PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after buying an additional 4,222,402 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of PPG Industries in the third quarter worth $604,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by company insiders.

PPG Industries Price Performance

PPG stock opened at $126.00 on Friday. The firm has a market cap of $29.23 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The stock has a 50-day simple moving average of $127.86 and a 200-day simple moving average of $128.10.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business earned $2.07 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PPG. Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Barclays cut their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets restated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. KeyCorp reduced their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. lowered their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $149.93.

About PPG Industries

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.