Mutual of America Capital Management LLC Sells 958 Shares of PPG Industries, Inc. (NYSE:PPG)

Mutual of America Capital Management LLC decreased its stake in PPG Industries, Inc. (NYSE:PPG) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,725 shares of the specialty chemicals company’s stock after selling 958 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PPG Industries were worth $3,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Financial Connections Group Inc. bought a new position in PPG Industries during the 2nd quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries in the 3rd quarter valued at $34,000. Rothschild Investment LLC bought a new stake in shares of PPG Industries in the 2nd quarter valued at $37,000. Hara Capital LLC acquired a new stake in PPG Industries during the 3rd quarter worth $40,000. Finally, Ashton Thomas Securities LLC bought a new position in PPG Industries during the third quarter worth about $46,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by company insiders.

PPG Industries Stock Performance

PPG opened at $122.68 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market cap of $28.46 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.85 and a beta of 1.26. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The business has a 50 day moving average of $127.08 and a 200-day moving average of $127.56.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.07 earnings per share. On average, equities research analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PPG shares. Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

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.