FineMark National Bank & Trust Trims Position in PPG Industries, Inc. (NYSE:PPG)

FineMark National Bank & Trust lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,258 shares of the specialty chemicals company’s stock after selling 200 shares during the period. FineMark National Bank & Trust’s holdings in PPG Industries were worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PPG. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. boosted its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the period. Albion Financial Group UT bought a new position in shares of PPG Industries during the fourth quarter valued at about $38,000. Crews Bank & Trust purchased a new position in shares of PPG Industries in the fourth quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of PPG Industries in the 4th quarter valued at about $44,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by company insiders.

PPG Industries Stock Performance

Shares of PPG opened at $111.55 on Wednesday. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week 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 stock has a market cap of $25.32 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.19 and a beta of 1.22. The business’s 50 day moving average price is $115.96 and its 200-day moving average price is $121.52.

PPG Industries (NYSE:PPG) last issued 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 net margin of 6.41% and a return on equity of 23.78%. Equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. The Goldman Sachs Group cut their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $138.15.

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.