PPG Industries, Inc. (NYSE:PPG) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. cut its stake in PPG Industries, Inc. (NYSE:PPG) by 48.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,407 shares of the specialty chemicals company’s stock after selling 99,267 shares during the period. Johnson Investment Counsel Inc.’s holdings in PPG Industries were worth $15,632,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. raised its holdings in shares of PPG Industries by 51.9% during the first quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock worth $797,000 after purchasing an additional 2,048 shares during the period. Sei Investments Co. grew its position in PPG Industries by 14.7% in the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after buying an additional 3,025 shares in the last quarter. Prudential PLC bought a new position in PPG Industries in the 1st quarter valued at about $619,000. Vanguard Group Inc. grew its position in PPG Industries by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after buying an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in PPG Industries by 7.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock valued at $2,553,000 after buying an additional 1,283 shares in the last quarter. 79.18% of the stock is owned by institutional investors and hedge funds.

PPG Industries Trading Up 0.5 %

Shares of PPG traded up $0.71 during midday trading on Friday, hitting $135.87. The stock had a trading volume of 961,746 shares, compared to its average volume of 1,462,723. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The business has a 50-day simple moving average of $129.18 and a two-hundred day simple moving average of $137.17. The firm has a market cap of $32.04 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.14 and a beta of 1.22. The company has a current ratio of 1.48, a quick ratio of 1.05 and a debt-to-equity ratio of 0.71.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.13. The business had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.64 billion. PPG Industries had a net margin of 7.84% and a return on equity of 23.51%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 earnings per share. As a group, equities analysts forecast that PPG Industries, Inc. will post 7.64 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is 43.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PPG. Royal Bank of Canada increased their target price on shares of PPG Industries from $145.00 to $158.00 and gave the company a “sector perform” rating in a research report on Monday, July 24th. BMO Capital Markets increased their target price on shares of PPG Industries from $158.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Morgan Stanley raised their price objective on shares of PPG Industries from $143.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. KeyCorp reduced their price objective on shares of PPG Industries from $172.00 to $166.00 and set an “overweight” rating for the company in a research report on Friday, October 20th. Finally, Barclays upgraded shares of PPG Industries from an “equal weight” rating to an “overweight” rating and set a $160.00 price objective for the company in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $155.44.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.