PPG Industries, Inc. (NYSE:PPG) Stock Position Lessened by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,256 shares of the specialty chemicals company’s stock after selling 4,408 shares during the quarter. Amalgamated Bank’s holdings in PPG Industries were worth $8,712,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Los Angeles Capital Management LLC lifted its stake in shares of PPG Industries by 31.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 23,039 shares of the specialty chemicals company’s stock worth $3,445,000 after acquiring an additional 5,458 shares during the period. Natixis Advisors L.P. lifted its position in PPG Industries by 10.0% in the fourth quarter. Natixis Advisors L.P. now owns 89,706 shares of the specialty chemicals company’s stock worth $13,415,000 after purchasing an additional 8,119 shares during the period. First Horizon Advisors Inc. boosted its stake in PPG Industries by 2.9% during the 4th quarter. First Horizon Advisors Inc. now owns 3,475 shares of the specialty chemicals company’s stock valued at $520,000 after purchasing an additional 97 shares in the last quarter. Summit Financial LLC increased its position in shares of PPG Industries by 3.8% during the 4th quarter. Summit Financial LLC now owns 4,004 shares of the specialty chemicals company’s stock valued at $599,000 after purchasing an additional 147 shares during the period. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth $29,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Up 0.5 %

Shares of NYSE PPG opened at $132.92 on Friday. The firm has a market capitalization of $31.17 billion, a PE ratio of 22.45, a PEG ratio of 1.65 and a beta of 1.30. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $138.16 and a two-hundred day moving average price of $138.89.

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

PPG Industries declared that its board has authorized a share repurchase plan on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio is currently 43.92%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated 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 in the company, valued at approximately $4,008,192.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PPG shares. Seaport Res Ptn raised PPG Industries from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. Citigroup lowered their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. KeyCorp cut their target price on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Redburn Atlantic lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Finally, Wolfe Research assumed coverage on PPG Industries in a research report on Friday, March 1st. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $155.47.

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.