Insider Selling: PPG Industries VP Sells 2,840 Shares of Stock (PPG)
PPG Industries (NYSE:PPG) VP David Navikas sold 2,840 shares of PPG Industries stock on the open market in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $177.83, for a total transaction of $505,037.20. Following the sale, the vice president now directly owns 18,300 shares of the company’s stock, valued at approximately $3,254,289. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
PPG Industries (NYSE:PPG) traded down 0.74% on Wednesday, hitting $178.79. 527,911 shares of the company’s stock traded hands. PPG Industries has a 52-week low of $107.43 and a 52-week high of $165.64. The stock has a 50-day moving average of $160.3 and a 200-day moving average of $150.3. The company has a market cap of $25.550 billion and a P/E ratio of 8.38.
PPG Industries (NYSE:PPG) last released its earnings data on Thursday, October 17th. The company reported $2.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.33 by $0.11. The company had revenue of $4.00 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the company posted $2.24 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Analysts expect that PPG Industries will post $8.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 12th. Investors of record on Monday, November 11th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, November 6th.
A number of research firms have recently commented on PPG. Analysts at Susquehanna raised their price target on shares of PPG Industries from $185.00 to $205.00 in a research note to investors on Tuesday. They now have a “positive” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of PPG Industries from $156.00 to $173.00 in a research note to investors on Friday, October 18th. They now have a “neutral” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of PPG Industries from $175.00 to $200.00 in a research note to investors on Friday, October 18th. They now have an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $164.94.
PPG Industries, Inc (NYSE:PPG) is a global supplier of protective and decorative coatings.
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