WASHINGTON TRUST Co Has $256,000 Holdings in PPG Industries, Inc. (NYSE:PPG)

WASHINGTON TRUST Co boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,712 shares of the specialty chemicals company’s stock after buying an additional 94 shares during the quarter. WASHINGTON TRUST Co’s holdings in PPG Industries were worth $256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in shares of PPG Industries by 11.0% in the third quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock valued at $46,512,000 after purchasing an additional 35,571 shares during the last quarter. Ergoteles LLC grew its position in PPG Industries by 90.3% during the second quarter. Ergoteles LLC now owns 18,257 shares of the specialty chemicals company’s stock worth $2,708,000 after buying an additional 8,662 shares in the last quarter. Nomura Holdings Inc. grew its position in PPG Industries by 2.3% during the third quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock worth $1,101,000 after buying an additional 192 shares in the last quarter. Financial Counselors Inc. grew its position in PPG Industries by 6.4% during the third quarter. Financial Counselors Inc. now owns 1,883 shares of the specialty chemicals company’s stock worth $244,000 after buying an additional 114 shares in the last quarter. Finally, Vest Financial LLC grew its position in PPG Industries by 42.6% during the fourth quarter. Vest Financial LLC now owns 217,865 shares of the specialty chemicals company’s stock worth $32,582,000 after buying an additional 65,073 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 0.2 %

Shares of NYSE:PPG opened at $144.90 on Friday. The firm has a market cap of $34.10 billion, a P/E ratio of 27.13, a P/E/G ratio of 1.43 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89. The business has a fifty day simple moving average of $141.25 and a 200 day simple moving average of $138.08.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.04. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.27 billion. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. PPG Industries’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS. Analysts predict that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a yield of 1.79%. PPG Industries’s payout ratio is currently 48.69%.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PPG. Royal Bank of Canada cut their target price on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a research note on Monday, January 22nd. Redburn Atlantic cut PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Thursday, February 1st. Wells Fargo & Company upped their target price on PPG Industries from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. UBS Group restated a “neutral” rating and set a $156.00 target price (down from $173.00) on shares of PPG Industries in a research note on Thursday, March 7th. Finally, Wolfe Research began coverage on PPG Industries in a research note on Friday, March 1st. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $157.13.

PPG Industries Company 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.