Glenmede Trust Co. NA Decreases Holdings in PPG Industries, Inc. (NYSE:PPG)

Glenmede Trust Co. NA lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 263,455 shares of the specialty chemicals company’s stock after selling 12,689 shares during the period. Glenmede Trust Co. NA owned about 0.11% of PPG Industries worth $34,897,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after purchasing an additional 368,410 shares in the last quarter. FMR LLC grew its holdings in shares of PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after purchasing an additional 354,740 shares during the last quarter. International Assets Investment Management LLC increased its stake in PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after buying an additional 279,455 shares during the period. Federated Hermes Inc. lifted its holdings in PPG Industries by 91.0% during the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after buying an additional 249,406 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after acquiring an additional 216,675 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.0 %

Shares of PPG Industries stock opened at $123.41 on Thursday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a market capitalization of $28.63 billion, a P/E ratio of 19.56, a PEG ratio of 1.92 and a beta of 1.26. The company’s fifty day moving average is $126.80 and its two-hundred day moving average is $127.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 earnings per share. Analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.20%. PPG Industries’s dividend payout ratio is presently 43.11%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.93.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % 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. 0.55% of the stock is 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.