Insight Folios Inc Sells 142 Shares of PPG Industries, Inc. (NYSE:PPG)

Insight Folios Inc cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,036 shares of the specialty chemicals company’s stock after selling 142 shares during the quarter. Insight Folios Inc’s holdings in PPG Industries were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Valued Wealth Advisors LLC bought a new stake in PPG Industries in the fourth quarter worth $26,000. SJS Investment Consulting Inc. boosted its holdings in PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in PPG Industries in the fourth quarter worth $27,000. CVA Family Office LLC bought a new stake in PPG Industries in the fourth quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in PPG Industries in the fourth quarter worth $29,000. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on PPG. Deutsche Bank Aktiengesellschaft dropped their target price on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada decreased their price target on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. KeyCorp decreased their price target on PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $155.47.

PPG Industries Stock Performance

Shares of PPG opened at $124.87 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. The business has a 50-day simple moving average of $130.30 and a two-hundred day simple moving average of $137.81. The stock has a market cap of $29.28 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.55 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 earnings per share. On average, analysts expect that PPG Industries, Inc. will post 8.44 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

PPG Industries declared that its board has authorized a share repurchase program on Thursday, April 18th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish acquired 2,061 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the purchase, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,774,388.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

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.