Greenleaf Trust Purchases 455 Shares of PPG Industries, Inc. (NYSE:PPG)

Greenleaf Trust boosted its position in PPG Industries, Inc. (NYSE:PPG) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,775 shares of the specialty chemicals company’s stock after buying an additional 455 shares during the quarter. Greenleaf Trust’s holdings in PPG Industries were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in PPG Industries in the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC purchased a new position in shares of PPG Industries in the fourth quarter worth about $26,000. SJS Investment Consulting Inc. raised its position in shares of PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares during the period. CVA Family Office LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at approximately $28,000. Finally, Harbour Investments Inc. boosted its holdings in PPG Industries by 84.9% in the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 101 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

PPG stock opened at $130.90 on Monday. The firm has a 50 day simple moving average of $140.36 and a two-hundred day simple moving average of $138.99. The stock has a market cap of $30.81 billion, a PE ratio of 22.11, a P/E/G ratio of 1.56 and a beta of 1.28. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 23.13%. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that PPG Industries, Inc. will post 8.46 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. PPG Industries’s dividend payout ratio is 43.92%.

Insider Buying and Selling

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PPG shares. Redburn Atlantic cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. Wolfe Research assumed coverage on PPG Industries in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Citigroup cut their target price on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Robert W. Baird restated an “outperform” rating and issued a $150.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $158.00.

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.