Capital Investment Advisors LLC Sells 29,797 Shares of PPG Industries, Inc. (NYSE:PPG)

Capital Investment Advisors LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 62.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,014 shares of the specialty chemicals company’s stock after selling 29,797 shares during the quarter. Capital Investment Advisors LLC’s holdings in PPG Industries were worth $1,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. PFW Advisors LLC boosted its stake in PPG Industries by 5.0% during the first quarter. PFW Advisors LLC now owns 7,624 shares of the specialty chemicals company’s stock worth $834,000 after acquiring an additional 361 shares in the last quarter. Central Bank & Trust Co. boosted its stake in PPG Industries by 47.4% during the first quarter. Central Bank & Trust Co. now owns 9,719 shares of the specialty chemicals company’s stock worth $1,063,000 after acquiring an additional 3,127 shares in the last quarter. Park Avenue Securities LLC boosted its stake in PPG Industries by 53.3% during the first quarter. Park Avenue Securities LLC now owns 3,625 shares of the specialty chemicals company’s stock worth $396,000 after acquiring an additional 1,260 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in PPG Industries by 26.6% during the first quarter. Miracle Mile Advisors LLC now owns 3,059 shares of the specialty chemicals company’s stock worth $335,000 after acquiring an additional 643 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its stake in PPG Industries by 244.1% during the first quarter. Independence Bank of Kentucky now owns 3,905 shares of the specialty chemicals company’s stock worth $427,000 after acquiring an additional 2,770 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group increased their target price on shares of PPG Industries from $110.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Wells Fargo & Company upped their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.42.

PPG Industries Price Performance

PPG opened at $112.66 on Monday. The firm has a market cap of $25.57 billion, a P/E ratio of 23.82, a PEG ratio of 2.19 and a beta of 1.17. The firm has a 50-day moving average of $106.52 and a 200 day moving average of $113.78. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.87 earnings per share. On average, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.41%. PPG Industries’s payout ratio is currently 58.24%.

About PPG Industries

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.