Thrivent Financial for Lutherans Sells 1,422 Shares of PPG Industries, Inc. (NYSE:PPG)

Thrivent Financial for Lutherans reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,071 shares of the specialty chemicals company’s stock after selling 1,422 shares during the period. Thrivent Financial for Lutherans’ holdings in PPG Industries were worth $3,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. RD Lewis Holdings Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth $218,000. Flagship Wealth Advisors LLC bought a new position in PPG Industries during the fourth quarter worth about $48,000. Signaturefd LLC raised its stake in PPG Industries by 2.5% in the 4th quarter. Signaturefd LLC now owns 5,268 shares of the specialty chemicals company’s stock worth $629,000 after purchasing an additional 128 shares in the last quarter. Cibc World Markets Corp boosted its holdings in PPG Industries by 296.8% in the 4th quarter. Cibc World Markets Corp now owns 125,745 shares of the specialty chemicals company’s stock valued at $15,020,000 after purchasing an additional 94,054 shares during the period. Finally, Twin Tree Management LP grew its position in shares of PPG Industries by 131.4% during the 4th quarter. Twin Tree Management LP now owns 67,183 shares of the specialty chemicals company’s stock worth $8,025,000 after purchasing an additional 38,154 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

PPG Industries Trading Up 0.1 %

NYSE PPG opened at $111.88 on Thursday. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The business’s fifty day moving average is $115.85 and its 200 day moving average is $121.45. 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 company has a market cap of $25.39 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data 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 net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.43%. PPG Industries’s dividend payout ratio is 57.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company cut their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Hold” and a consensus price target of $138.15.

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.