PPG Industries, Inc. (NYSE:PPG) Shares Bought by Leavell Investment Management Inc.

Leavell Investment Management Inc. grew its position in PPG Industries, Inc. (NYSE:PPG) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,915 shares of the specialty chemicals company’s stock after purchasing an additional 150 shares during the quarter. Leavell Investment Management Inc.’s holdings in PPG Industries were worth $386,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kingsview Wealth Management LLC lifted its holdings in PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after buying an additional 76 shares during the last quarter. Insight Folios Inc lifted its stake in PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 81 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares in the last quarter. Klingman & Associates LLC increased its stake in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 83 shares during the last quarter. Finally, Fragasso Financial Advisors Inc raised its holdings in PPG Industries by 0.6% during the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after purchasing an additional 84 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $125.52 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a 50-day simple moving average of $127.72 and a 200-day simple moving average of $128.03. The company has a market capitalization of $29.12 billion, a PE ratio of 19.89, a P/E/G ratio of 1.92 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its 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). The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $2.07 earnings per share. Equities research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.17%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PPG shares. Royal Bank of Canada dropped their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Barclays cut their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Citigroup dropped their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, KeyCorp cut their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $149.93.

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.