Stock Yards Bank & Trust Co. Sells 142 Shares of PPG Industries, Inc. (NYSE:PPG)

Stock Yards Bank & Trust Co. lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,734 shares of the specialty chemicals company’s stock after selling 142 shares during the period. Stock Yards Bank & Trust Co.’s holdings in PPG Industries were worth $2,802,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. increased its holdings in PPG Industries by 6.7% during the 4th quarter. J.W. Cole Advisors Inc. now owns 11,004 shares of the specialty chemicals company’s stock worth $1,646,000 after purchasing an additional 690 shares in the last quarter. FMR LLC increased its holdings in PPG Industries by 11.0% during the 3rd quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock worth $46,512,000 after purchasing an additional 35,571 shares in the last quarter. Cerity Partners LLC increased its holdings in PPG Industries by 137.5% during the 4th quarter. Cerity Partners LLC now owns 34,937 shares of the specialty chemicals company’s stock worth $5,224,000 after purchasing an additional 20,226 shares in the last quarter. Nomura Holdings Inc. increased its holdings in PPG Industries by 2.3% during the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock worth $1,101,000 after purchasing an additional 192 shares in the last quarter. Finally, Financial Counselors Inc. increased its holdings in PPG Industries by 6.4% during the 3rd quarter. Financial Counselors Inc. now owns 1,883 shares of the specialty chemicals company’s stock worth $244,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PPG. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a research note on Monday. Robert W. Baird restated an “outperform” rating and set a $150.00 price objective on shares of PPG Industries in a research note on Friday, January 19th. Finally, Citigroup reduced their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Hold” and an average target price of $155.50.

PPG Industries Trading Up 0.2 %

Shares of NYSE:PPG opened at $131.13 on Tuesday. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The company has a market capitalization of $30.86 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. The company has a 50-day simple moving average of $140.16 and a 200 day simple moving average of $138.99. 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 (NYSE:PPG) last released its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 23.13%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 8.46 earnings per share for the current year.

PPG Industries declared that its Board of Directors has approved a stock buyback program on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 1.98%. PPG Industries’s dividend payout ratio is currently 43.92%.

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.