PPG Industries, Inc. (NYSE:PPG) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co reduced its position in PPG Industries, Inc. (NYSE:PPG) by 17.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,200 shares of the specialty chemicals company’s stock after selling 2,365 shares during the quarter. CENTRAL TRUST Co’s holdings in PPG Industries were worth $1,483,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Financial Connections Group Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at $25,000. Rothschild Investment LLC purchased a new stake in shares of PPG Industries during the 2nd quarter valued at about $37,000. LRI Investments LLC acquired a new position in PPG Industries during the 1st quarter worth approximately $53,000. DiNuzzo Private Wealth Inc. boosted its holdings in PPG Industries by 103.6% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 203 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in PPG Industries in the first quarter valued at approximately $61,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent research reports. KeyCorp reduced their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Bank of America lowered their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Citigroup dropped their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Stock Performance

PPG stock opened at $126.45 on Friday. The firm has a market cap of $29.65 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.94 and a beta of 1.26. The stock’s 50 day simple moving average is $127.79 and its 200 day simple moving average is $128.82. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the business posted $2.07 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts predict that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 45.95%.

About PPG Industries

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.