Bank of Stockton Sells 514 Shares of PPG Industries, Inc. (NYSE:PPG)

Bank of Stockton lowered its position in PPG Industries, Inc. (NYSE:PPG) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,828 shares of the specialty chemicals company’s stock after selling 514 shares during the period. Bank of Stockton’s holdings in PPG Industries were worth $640,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC increased its holdings in PPG Industries by 5.2% during the third quarter. Ballentine Partners LLC now owns 6,509 shares of the specialty chemicals company’s stock worth $862,000 after buying an additional 322 shares during the last quarter. Heritage Oak Wealth Advisors LLC purchased a new stake in PPG Industries during the third quarter worth about $208,000. Nicholson Wealth Management Group LLC purchased a new position in shares of PPG Industries in the third quarter worth about $633,000. Mount Yale Investment Advisors LLC purchased a new position in shares of PPG Industries in the third quarter worth about $4,796,000. Finally, Tectonic Advisors LLC increased its stake in shares of PPG Industries by 18.3% in the third quarter. Tectonic Advisors LLC now owns 46,983 shares of the specialty chemicals company’s stock worth $6,223,000 after purchasing an additional 7,275 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Bank of America cut their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Royal Bank of Canada cut their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Trading Up 0.0 %

PPG Industries stock traded up $0.01 during mid-day trading on Friday, reaching $127.25. 162,884 shares of the company traded hands, compared to its average volume of 1,588,276. 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 firm’s 50 day moving average price is $127.69 and its 200 day moving average price is $128.83. The firm has a market capitalization of $29.52 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 1.94 and a beta of 1.26. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm posted $2.07 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts anticipate that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

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.