PPG Industries, Inc. (NYSE:PPG) Position Reduced by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,323 shares of the specialty chemicals company’s stock after selling 105 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in PPG Industries were worth $292,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Private Wealth Management Group LLC bought a new position in shares of PPG Industries in the fourth quarter valued at $27,000. Richardson Financial Services Inc. acquired a new stake in PPG Industries during the 4th quarter valued at $29,000. DiNuzzo Private Wealth Inc. acquired a new stake in PPG Industries during the 4th quarter valued at $29,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries during the 1st quarter valued at $29,000. Finally, YHB Investment Advisors Inc. acquired a new stake in PPG Industries during the 1st quarter valued at $29,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PPG shares. Barclays cut their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets dropped their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. KeyCorp dropped their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Royal Bank of Canada lowered their target price on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Stock Up 1.2 %

PPG traded up $1.52 during trading on Wednesday, hitting $124.52. The company had a trading volume of 314,728 shares, compared to its average volume of 1,646,169. The company has a market capitalization of $29.05 billion, a PE ratio of 21.05, a PEG ratio of 1.61 and a beta of 1.26. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The firm’s 50-day moving average price is $125.74 and its 200 day moving average price is $132.96. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the business earned $2.25 EPS. PPG Industries’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts expect that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be paid a $0.68 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.18%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is 45.95%.

PPG Industries Company 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.