Gulf International Bank UK Ltd Sells 227 Shares of PPG Industries, Inc. (NYSE:PPG)

Gulf International Bank UK Ltd trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,387 shares of the specialty chemicals company’s stock after selling 227 shares during the period. Gulf International Bank UK Ltd’s holdings in PPG Industries were worth $2,196,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PPG. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries in the 4th quarter worth $27,000. Pin Oak Investment Advisors Inc. boosted its position in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of PPG Industries in the 3rd quarter worth $34,000. Albion Financial Group UT bought a new position in shares of PPG Industries in the 4th quarter worth $38,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries in the 3rd quarter worth $40,000. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on PPG shares. UBS Group reduced their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Price Performance

NYSE:PPG opened at $112.99 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock’s 50-day simple moving average is $117.57 and its 200 day simple moving average is $123.05. The company has a market cap of $25.64 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

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.