PPG Industries, Inc. (NYSE:PPG) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,309 shares of the specialty chemicals company’s stock after selling 1,574 shares during the period. Procyon Advisors LLC’s holdings in PPG Industries were worth $2,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PPG. Bradley Foster & Sargent Inc. CT boosted its stake in PPG Industries by 1.7% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company’s stock worth $669,000 after buying an additional 90 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of PPG Industries by 5.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 21,987 shares of the specialty chemicals company’s stock worth $2,954,000 after acquiring an additional 1,105 shares during the last quarter. Argent Trust Co boosted its position in shares of PPG Industries by 9.3% during the 2nd quarter. Argent Trust Co now owns 2,187 shares of the specialty chemicals company’s stock worth $275,000 after purchasing an additional 186 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in PPG Industries by 50.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,866 shares of the specialty chemicals company’s stock valued at $1,983,000 after purchasing an additional 5,352 shares during the last quarter. Finally, Blair William & Co. IL raised its position in PPG Industries by 4.8% in the second quarter. Blair William & Co. IL now owns 36,127 shares of the specialty chemicals company’s stock valued at $4,548,000 after purchasing an additional 1,657 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $120.14 on Friday. The firm has a market capitalization of $27.87 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business’s fifty day moving average price is $121.37 and its 200 day moving average price is $124.83. PPG Industries, Inc. has a 12 month low of $113.00 and a 12 month high of $145.86.

PPG Industries (NYSE:PPG) last posted its earnings results 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). The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 EPS. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 8.15 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 43.11%.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

PPG has been the subject of several research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Citigroup lowered their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.29.

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.