Morton Community Bank Grows Stake in PPG Industries, Inc. (NYSE:PPG)

Morton Community Bank increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,053 shares of the specialty chemicals company’s stock after buying an additional 570 shares during the quarter. Morton Community Bank’s holdings in PPG Industries were worth $2,634,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PPG. Summit Global Investments purchased a new stake in shares of PPG Industries during the third quarter valued at $299,000. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries during the third quarter valued at $34,000. Leavell Investment Management Inc. grew its holdings in shares of PPG Industries by 5.4% during the third quarter. Leavell Investment Management Inc. now owns 2,915 shares of the specialty chemicals company’s stock valued at $386,000 after buying an additional 150 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of PPG Industries during the third quarter valued at $1,012,000. Finally, SpiderRock Advisors LLC grew its holdings in shares of PPG Industries by 9.8% during the third quarter. SpiderRock Advisors LLC now owns 7,259 shares of the specialty chemicals company’s stock valued at $962,000 after buying an additional 649 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction 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 approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PPG has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Mizuho decreased their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company decreased their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Stock Up 0.1 %

PPG opened at $115.47 on Monday. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $116.82 and a 200 day moving average price of $122.75. The company has a market cap of $26.21 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

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.