Gulf International Bank UK Ltd Sells 825 Shares of PPG Industries, Inc. (NYSE:PPG)

Gulf International Bank UK Ltd trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,614 shares of the specialty chemicals company’s stock after selling 825 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PPG Industries were worth $2,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PPG. Vest Financial LLC raised its stake in shares of PPG Industries by 28.9% during the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares during the last quarter. BDF Gestion purchased a new stake in PPG Industries in the second quarter worth $3,452,000. State Board of Administration of Florida Retirement System boosted its holdings in PPG Industries by 8.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after acquiring an additional 22,079 shares in the last quarter. Vanguard Group Inc. increased its position in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the period. Finally, Ritholtz Wealth Management bought a new position in PPG Industries in the 3rd quarter worth $604,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PPG. Mizuho lowered their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Bank of America lowered their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. KeyCorp reduced their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Barclays cut their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $149.93.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $125.78 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The business has a 50-day moving average price of $127.86 and a 200 day moving average price of $128.10. The firm has a market cap of $29.18 billion, a PE ratio of 19.93, a P/E/G ratio of 1.91 and a beta of 1.26.

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

PPG Industries Dividend Announcement

The firm 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 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.