Pathstone Holdings LLC Sells 1,828 Shares of PPG Industries, Inc. (NYSE:PPG)

Pathstone Holdings LLC trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 7.0% in the third quarter, HoldingsChannel reports. The fund owned 24,260 shares of the specialty chemicals company’s stock after selling 1,828 shares during the period. Pathstone Holdings LLC’s holdings in PPG Industries were worth $3,213,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Insight Folios Inc lifted its stake in PPG Industries by 3.8% in 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% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after acquiring an additional 82 shares during the period. Klingman & Associates LLC grew its position in PPG Industries by 2.6% during the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares during the last quarter. Fragasso Financial Advisors Inc increased its stake in PPG Industries by 0.6% in the 2nd 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 during the period. Finally, SeaCrest Wealth Management LLC lifted its position in PPG Industries by 2.6% in the second quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PPG. Royal Bank of Canada decreased 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 note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.93.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’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 transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Stock Down 0.0 %

Shares of PPG Industries stock opened at $122.65 on Monday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The firm has a market cap of $28.45 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.88 and a beta of 1.26. The company has a 50-day moving average of $127.00 and a 200 day moving average of $127.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the business posted $2.07 EPS. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business 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 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

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.