PPG Industries (NYSE:PPG) VP Chancey Hagerty Sells 2,500 Shares of Stock

PPG Industries, Inc. (NYSE:PPG) VP Chancey Hagerty sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $127.14, for a total transaction of $317,850.00. Following the sale, the vice president owned 9,761 shares of the company’s stock, valued at $1,241,013.54. This represents a 20.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PPG Industries Stock Performance

Shares of PPG stock opened at $123.42 on Friday. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The firm’s 50 day moving average price is $109.61 and its 200-day moving average price is $112.78. The firm has a market cap of $27.26 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.13. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the firm earned $2.13 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.98 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PPG Industries’s dividend payout ratio is presently 42.29%.

Analyst Ratings Changes

PPG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. KeyCorp boosted their target price on shares of PPG Industries from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. UBS Group raised their price objective on PPG Industries from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a report on Thursday, October 29th. Finally, Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $128.29.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System acquired a new position in PPG Industries during the 3rd quarter valued at about $1,450,000. Pavion Blue Capital LLC bought a new stake in shares of PPG Industries during the 3rd quarter worth about $772,000. Ritholtz Wealth Management acquired a new stake in shares of PPG Industries in the 3rd quarter worth approximately $290,000. Jefferies Financial Group Inc. lifted its stake in shares of PPG Industries by 25.0% in the 3rd quarter. Jefferies Financial Group Inc. now owns 10,000 shares of the specialty chemicals company’s stock worth $1,043,000 after acquiring an additional 2,000 shares during the period. Finally, First Command Advisory Services Inc. lifted its stake in shares of PPG Industries by 376.4% in the 3rd quarter. First Command Advisory Services Inc. now owns 1,272 shares of the specialty chemicals company’s stock worth $133,000 after acquiring an additional 1,005 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.