PPG Industries (NYSE:PPG) Stock: Insider Chancey Hagerty Sells 2,500 Shares

PPG Industries, Inc. (NYSE:PPG) VP Chancey Hagerty sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total value of $317,850.00. Following the completion of the transaction, the vice president owned 9,761 shares of the company’s stock, valued at approximately $1,241,013.54. The trade was a 20.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

PPG Industries Stock Down 3.0%

PPG stock traded down $3.85 during midday trading on Thursday, hitting $123.42. The stock had a trading volume of 2,313,413 shares, compared to its average volume of 2,003,474. The firm has a market cap of $27.26 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. The business has a 50-day moving average of $109.43 and a two-hundred day moving average of $112.71. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.15.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.12 by $0.13. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.28 billion. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 earnings per share. As a group, equities research analysts forecast that PPG Industries, Inc. will post 7.98 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 10th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, November 10th. PPG Industries’s dividend payout ratio (DPR) is presently 42.29%.

Institutional Investors Weigh In On PPG Industries

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in PPG Industries during the 2nd quarter valued at $2,856,392,000. State Street Corp raised its stake in shares of PPG Industries by 8.8% in the second quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock worth $1,682,428,000 after purchasing an additional 1,124,109 shares during the last quarter. Pzena Investment Management LLC purchased a new position in shares of PPG Industries in the second quarter worth $946,964,000. Dimensional Fund Advisors LP lifted its holdings in shares of PPG Industries by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,925,343 shares of the specialty chemicals company’s stock valued at $312,613,000 after purchasing an additional 58,411 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of PPG Industries during the second quarter valued at $318,870,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $115.00 to $123.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 29th. Citigroup upped their price target on PPG Industries from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research report on Monday, September 14th. KeyCorp lifted their price objective on PPG Industries from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. boosted their target price on PPG Industries from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.29.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.