Gulf International Bank UK Ltd Sells 2,447 Shares of PPG Industries, Inc. (NYSE:PPG)

Gulf International Bank UK Ltd lowered its holdings in PPG Industries, Inc. (NYSE:PPGFree Report) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,299 shares of the specialty chemicals company’s stock after selling 2,447 shares during the period. Gulf International Bank UK Ltd’s holdings in PPG Industries were worth $2,886,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in PPG Industries during the third quarter worth about $25,000. Valued Wealth Advisors LLC purchased a new stake in PPG Industries in the fourth quarter worth approximately $26,000. Harbour Investments Inc. grew its position in PPG Industries by 84.9% during the first quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 101 shares during the last quarter. Quarry LP purchased a new position in shares of PPG Industries during the second quarter worth approximately $29,000. Finally, Intrepid Capital Management Inc. bought a new stake in shares of PPG Industries in the 2nd quarter worth approximately $30,000. 79.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

PPG has been the topic of a number of analyst reports. Wolfe Research assumed coverage on shares of PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. Barclays lowered PPG Industries from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $163.00 to $149.00 in a report on Tuesday, February 27th. Robert W. Baird reaffirmed an “outperform” rating and issued a $150.00 target price on shares of PPG Industries in a report on Friday, January 19th. Wells Fargo & Company upped their price target on shares of PPG Industries from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. Finally, KeyCorp boosted their target price on PPG Industries from $166.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $157.13.

View Our Latest Research Report on PPG

PPG Industries Price Performance

Shares of NYSE PPG opened at $143.55 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The stock’s 50-day simple moving average is $141.47 and its 200-day simple moving average is $137.90. The firm has a market capitalization of $33.79 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 1.41 and a beta of 1.28.

PPG Industries (NYSE:PPGGet Free Report) last released its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.49 by $0.04. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. PPG Industries’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts forecast that PPG Industries, Inc. will post 8.45 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Thursday, February 15th. PPG Industries’s payout ratio is 48.69%.

About PPG Industries

(Free Report)

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.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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