PPG Industries, Inc. (NYSE:PPG) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,230 shares of the specialty chemicals company’s stock after selling 132 shares during the quarter. Sentry Investment Management LLC’s holdings in PPG Industries were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Valued Wealth Advisors LLC purchased a new position in PPG Industries in the 4th quarter worth about $26,000. SJS Investment Consulting Inc. increased its position in shares of PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of PPG Industries in the fourth quarter worth approximately $28,000. Quarry LP acquired a new stake in shares of PPG Industries during the second quarter valued at approximately $29,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of PPG Industries in the 4th quarter valued at approximately $30,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of recent analyst reports. Vertical Research upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $163.00 to $149.00 in a report on Tuesday, February 27th. UBS Group restated a “neutral” rating and set a $156.00 price objective (down from $173.00) on shares of PPG Industries in a research report on Thursday, March 7th. KeyCorp dropped their target price on PPG Industries from $167.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Finally, Citigroup lowered their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $158.40.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $133.52 on Wednesday. The company has a market cap of $31.43 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.61 and a beta of 1.28. The business has a 50 day moving average price of $140.69 and a 200 day moving average price of $138.93. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.04. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the business earned $1.22 earnings per share. PPG Industries’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.60 annualized dividend and a yield of 1.95%. PPG Industries’s dividend payout ratio is currently 48.69%.

PPG Industries 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.