Yousif Capital Management LLC Sells 995 Shares of PPG Industries, Inc. (NYSE:PPG)

Yousif Capital Management LLC cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,018 shares of the specialty chemicals company’s stock after selling 995 shares during the quarter. Yousif Capital Management LLC’s holdings in PPG Industries were worth $12,266,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PPG. OFI Invest Asset Management bought a new position in PPG Industries in the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC acquired a new position in shares of PPG Industries during the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its holdings in shares of PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares during the last quarter. CVA Family Office LLC bought a new stake in PPG Industries in the 4th quarter valued at $28,000. Finally, Financial Connections Group Inc. bought a new stake in PPG Industries in the 4th quarter valued at $30,000. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PPG has been the subject of several recent research reports. Royal Bank of Canada reduced their price target on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a research note on Monday. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday. Wolfe Research initiated coverage on PPG Industries in a research report on Friday, March 1st. They set a “peer perform” rating for the company. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $155.50.

Insider Activity at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is currently owned by company insiders.

PPG Industries Trading Up 0.1 %

Shares of PPG Industries stock traded up $0.09 on Wednesday, hitting $130.52. 1,635,295 shares of the company’s stock traded hands, compared to its average volume of 1,781,208. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.05. The company has a fifty day moving average of $140.00 and a two-hundred day moving average of $138.97. The company has a market capitalization of $30.61 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the company earned $1.82 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that PPG Industries, Inc. will post 8.47 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

PPG Industries declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

PPG Industries Profile

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.