PPG Industries VP Sells $1,810,170 in Stock (PPG)
PPG Industries (NYSE:PPG) VP David B. Navikas unloaded 9,000 shares of PPG Industries stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $201.13, for a total value of $1,810,170.00. Following the completion of the transaction, the vice president now directly owns 22,694 shares of the company’s stock, valued at approximately $4,564,444. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on PPG. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PPG Industries in a research note on Friday, July 18th. They now have a $230.00 price target on the stock, up previously from $225.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of PPG Industries in a research note on Friday, July 18th. They now have a $218.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of PPG Industries in a research note on Friday, July 18th. They now have a $235.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $208.92.
Shares of PPG Industries (NYSE:PPG) traded down 0.10% during mid-day trading on Friday, hitting $201.3701. The stock had a trading volume of 299,852 shares. PPG Industries has a 52 week low of $155.27 and a 52 week high of $213.01. The stock has a 50-day moving average of $205.1 and a 200-day moving average of $197.3. The company has a market cap of $27.756 billion and a price-to-earnings ratio of 13.45.
PPG Industries (NYSE:PPG) last released its earnings data on Thursday, July 17th. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.02. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the company posted $2.45 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that PPG Industries will post $9.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, August 7th.
PPG Industries, Inc (NYSE:PPG) is a global supplier of protective and decorative coatings.
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