Fiduciary Trust Co Sells 1,799 Shares of PPG Industries, Inc. (NYSE:PPG)

Fiduciary Trust Co decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,270 shares of the specialty chemicals company’s stock after selling 1,799 shares during the period. Fiduciary Trust Co’s holdings in PPG Industries were worth $2,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after acquiring an additional 368,410 shares during the last quarter. FMR LLC boosted its stake in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after acquiring an additional 354,740 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of PPG Industries by 189.6% during the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after buying an additional 279,455 shares during the period. Federated Hermes Inc. lifted its stake in shares of PPG Industries by 91.0% during the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after buying an additional 249,406 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after purchasing an additional 216,675 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’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 transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

PPG opened at $123.45 on Friday. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $126.69 and a 200-day moving average price of $127.20. The stock has a market capitalization of $28.64 billion, a P/E ratio of 19.56, a PEG ratio of 1.89 and a beta of 1.26.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PPG shares. JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Mizuho reduced their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada cut their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. 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 report on Monday, October 21st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

About PPG Industries

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.