Wilmington Savings Fund Society FSB Boosts Stake in PPG Industries, Inc. (NYSE:PPG)

Wilmington Savings Fund Society FSB raised its stake in PPG Industries, Inc. (NYSE:PPG) by 69.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 54,004 shares of the specialty chemicals company’s stock after purchasing an additional 22,198 shares during the period. Wilmington Savings Fund Society FSB’s holdings in PPG Industries were worth $7,153,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PPG. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries in the 2nd quarter worth about $25,000. Pin Oak Investment Advisors Inc. grew its holdings in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new stake in PPG Industries in the third quarter worth about $34,000. Rothschild Investment LLC acquired a new stake in PPG Industries in the 2nd quarter valued at about $37,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries during the 3rd quarter valued at about $40,000. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PPG. JPMorgan Chase & Co. decreased their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho reduced their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Royal Bank of Canada decreased their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $124.02 on Friday. The company has a market cap of $28.77 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 1.88 and a beta of 1.24. The business has a 50 day moving average price of $125.74 and a 200 day moving average price of $126.60. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16.

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

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insider Transactions at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.55% of the stock is owned by insiders.

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.