PPG Industries, Inc. (NYSE:PPG) CEO Sells $568,080.00 in Stock

PPG Industries, Inc. (NYSE:PPG) CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PPG Industries Trading Up 0.9 %

Shares of PPG Industries stock traded up $1.04 on Tuesday, hitting $118.79. 482,436 shares of the company’s stock traded hands, compared to its average volume of 2,084,511. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a fifty day moving average of $118.84 and a two-hundred day moving average of $123.36. The company has a market capitalization of $27.56 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, sell-side analysts expect that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.29%. PPG Industries’s payout ratio is currently 57.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Mizuho lowered their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.15.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPG. Norges Bank bought a new position in PPG Industries in the fourth quarter worth approximately $470,535,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock valued at $518,132,000 after purchasing an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of PPG Industries by 815.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock valued at $362,074,000 after purchasing an additional 2,700,018 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of PPG Industries by 138.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock valued at $381,876,000 after acquiring an additional 1,858,895 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in PPG Industries by 17.7% during the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after acquiring an additional 1,590,041 shares during the period. Institutional investors own 81.86% of the company’s stock.

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.