PPG Industries, Inc. (NYSE:PPG) Shares Sold by FORA Capital LLC

FORA Capital LLC cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 54.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,706 shares of the specialty chemicals company’s stock after selling 24,264 shares during the period. FORA Capital LLC’s holdings in PPG Industries were worth $2,473,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PPG. Prudent Man Investment Management Inc. acquired a new stake in PPG Industries during the fourth quarter worth approximately $36,000. Albion Financial Group UT purchased a new stake in PPG Industries in the fourth quarter valued at $38,000. Crews Bank & Trust acquired a new stake in shares of PPG Industries in the 4th quarter valued at about $42,000. Sugar Maple Asset Management LLC purchased a new position in PPG Industries during the 4th quarter worth approximately $44,000. Finally, Millstone Evans Group LLC acquired a new position in PPG Industries during the fourth quarter worth approximately $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Mizuho dropped their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Bank of America reissued a “neutral” rating and issued a $126.00 price target (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Finally, Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $128.83.

PPG Industries Price Performance

NYSE:PPG opened at $108.55 on Friday. The firm has a market cap of $24.64 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average is $106.58 and its two-hundred day moving average is $115.79.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. The firm had revenue of $3.68 billion for 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%. PPG Industries’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.87 earnings per share. Research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.51%. PPG Industries’s dividend payout ratio is presently 58.24%.

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.