Ledyard National Bank Purchases 800 Shares of PPG Industries, Inc. (NYSE:PPG)

Ledyard National Bank increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,131 shares of the specialty chemicals company’s stock after acquiring an additional 800 shares during the quarter. Ledyard National Bank’s holdings in PPG Industries were worth $468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PPG. Valued Wealth Advisors LLC bought a new position in PPG Industries in the fourth quarter valued at approximately $26,000. SJS Investment Consulting Inc. lifted its stake in PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 153 shares in the last quarter. CVA Family Office LLC bought a new position in PPG Industries in the fourth quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in PPG Industries in the fourth quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new position in PPG Industries in the third quarter valued at approximately $25,000. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Redburn Atlantic lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. UBS Group cut their price objective on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Seaport Res Ptn raised shares of PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday, April 22nd. Finally, Evercore ISI downgraded shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price on the stock. in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $155.47.

PPG Industries Stock Performance

Shares of PPG Industries stock traded down $0.71 during trading on Tuesday, reaching $130.03. The company’s stock had a trading volume of 342,863 shares, compared to its average volume of 1,759,463. The business’s 50-day moving average price is $139.08 and its 200-day moving average price is $138.97. The firm has a market cap of $30.49 billion, a PE ratio of 22.08, a P/E/G ratio of 1.62 and a beta of 1.28. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 2.00%. PPG Industries’s dividend payout ratio is 43.92%.

PPG Industries declared that its board has approved a share repurchase program on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by company insiders.

PPG Industries Company 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.