Caprock Group LLC Sells 2,775 Shares of PPG Industries, Inc. (NYSE:PPG)

Caprock Group LLC lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 32.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,696 shares of the specialty chemicals company’s stock after selling 2,775 shares during the quarter. Caprock Group LLC’s holdings in PPG Industries were worth $754,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PPG. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the second quarter worth $25,000. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the 3rd quarter worth about $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries in the 2nd quarter valued at about $37,000. Hara Capital LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of PPG Industries during the 3rd quarter valued at about $46,000. Institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

PPG Industries Price Performance

PPG Industries stock opened at $122.68 on Friday. 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 business’s 50 day simple moving average is $127.08 and its 200 day simple moving average is $127.56. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.85 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced 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). The firm had revenue of $4.58 billion during 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%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.07 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PPG shares. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price target 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

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.