Gulf International Bank UK Ltd Sells 227 Shares of PPG Industries, Inc. (NYSE:PPG)

Gulf International Bank UK Ltd reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,387 shares of the specialty chemicals company’s stock after selling 227 shares during the period. Gulf International Bank UK Ltd’s holdings in PPG Industries were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new position in PPG Industries during the third quarter valued at approximately $34,000. Hara Capital LLC acquired a new position in PPG Industries during the third quarter valued at approximately $40,000. Finally, Albion Financial Group UT acquired a new position in PPG Industries during the fourth quarter valued at approximately $38,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $112.99 on Friday. 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 twelve month low of $110.20 and a twelve month high of $145.60. The stock has a market cap of $25.64 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 2.19 and a beta of 1.23. The company’s fifty day moving average is $117.57 and its 200 day moving average is $123.05.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.41%. PPG Industries’s dividend payout ratio is presently 57.51%.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PPG shares. Mizuho lowered their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Barclays restated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

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.