PPG Industries, Inc. (NYSE:PPG) CFO Sells $479,196.00 in Stock

PPG Industries, Inc. (NYSE:PPGGet Free Report) CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PPG Industries Price Performance

PPG opened at $138.80 on Wednesday. The company has a fifty day moving average price of $143.01 and a two-hundred day moving average price of $137.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The firm has a market capitalization of $32.65 billion, a PE ratio of 25.99, a P/E/G ratio of 1.38 and a beta of 1.28.

PPG Industries (NYSE:PPGGet Free Report) last announced its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.04. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. As a group, analysts anticipate that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.60 annualized dividend and a yield of 1.87%. PPG Industries’s dividend payout ratio (DPR) is presently 48.69%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PPG. KeyCorp raised their price objective on shares of PPG Industries from $166.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. UBS Group raised their price objective on shares of PPG Industries from $165.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Redburn Atlantic lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.20.

Read Our Latest Stock Report on PPG Industries

Institutional Investors Weigh In On PPG Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPG. Greenwood Capital Associates LLC raised its holdings in shares of PPG Industries by 4.8% in the 4th quarter. Greenwood Capital Associates LLC now owns 42,709 shares of the specialty chemicals company’s stock valued at $6,387,000 after purchasing an additional 1,937 shares during the period. Richardson Financial Services Inc. acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $29,000. Goldman Sachs Group Inc. boosted its position in shares of PPG Industries by 1.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,287,925 shares of the specialty chemicals company’s stock worth $192,609,000 after acquiring an additional 17,767 shares in the last quarter. Syon Capital LLC boosted its position in shares of PPG Industries by 7.9% during the 4th quarter. Syon Capital LLC now owns 2,501 shares of the specialty chemicals company’s stock worth $374,000 after acquiring an additional 183 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $567,000. 79.18% of the stock is owned by institutional investors.

PPG Industries Company Profile

(Get Free Report)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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