Insider Selling: PPG Industries, Inc. (PPG) Insider Sells 18,616 Shares of Stock
PPG Industries, Inc. (NYSE:PPG) insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the sale, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of PPG Industries, Inc. (NYSE PPG) traded up 2.10% during trading on Tuesday, hitting $104.54. 995,787 shares of the company were exchanged. The company has a 50 day moving average of $106.91 and a 200-day moving average of $106.31. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $113.67. The stock has a market capitalization of $26.81 billion, a PE ratio of 27.50 and a beta of 1.54.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the company earned $1.73 EPS. PPG Industries’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts forecast that PPG Industries, Inc. will post $6.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.72%. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 8th. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.
A number of analysts have commented on PPG shares. SunTrust Banks, Inc. lowered shares of PPG Industries from a “buy” rating to a “hold” rating and decreased their price target for the company from $120.00 to $113.00 in a research note on Monday, July 24th. TheStreet upgraded shares of PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Barclays PLC boosted their price target on shares of PPG Industries from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, April 24th. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Credit Suisse Group set a $113.00 price target on shares of PPG Industries and gave the company a “buy” rating in a research note on Sunday, July 23rd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. PPG Industries currently has an average rating of “Hold” and a consensus target price of $114.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in PPG. Harbour Capital Advisors LLC boosted its position in shares of PPG Industries by 10,896.0% in the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock valued at $100,000 after buying an additional 10,896 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in shares of PPG Industries during the second quarter valued at about $105,000. Baystate Wealth Management LLC boosted its position in shares of PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock valued at $109,000 after buying an additional 40 shares during the last quarter. V Wealth Management LLC purchased a new position in shares of PPG Industries during the second quarter valued at about $112,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of PPG Industries during the second quarter valued at about $113,000. 71.54% of the stock is currently owned by institutional investors and hedge funds.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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