First Western Trust Bank Cuts Holdings in PPG Industries, Inc. (NYSE:PPG)

First Western Trust Bank lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 7.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,996 shares of the specialty chemicals company’s stock after selling 163 shares during the quarter. First Western Trust Bank’s holdings in PPG Industries were worth $264,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Connections Group Inc. acquired a new position in PPG Industries during the 2nd quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries during the 3rd quarter worth $34,000. Rothschild Investment LLC purchased a new position in PPG Industries in the second quarter valued at $37,000. Hara Capital LLC purchased a new position in PPG Industries in the third quarter valued at $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in PPG Industries in the third quarter valued at $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Stock Down 0.8 %

Shares of PPG Industries stock opened at $122.53 on Monday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a market cap of $28.43 billion, a P/E ratio of 19.42, a PEG ratio of 1.87 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a fifty day moving average of $127.37 and a two-hundred day moving average of $127.78.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (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 firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the company earned $2.07 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Barclays dropped their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Bank of America reduced 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. Royal Bank of Canada dropped their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Finally, Citigroup reduced their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

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.