PPG Industries, Inc. (NYSE:PPG) Position Lessened by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC decreased its stake in PPG Industries, Inc. (NYSE:PPG) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,035 shares of the specialty chemicals company’s stock after selling 134 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in PPG Industries were worth $534,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd raised its stake in PPG Industries by 25.2% during the 1st quarter. Covestor Ltd now owns 582 shares of the specialty chemicals company’s stock valued at $84,000 after acquiring an additional 117 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in PPG Industries by 62.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,410 shares of the specialty chemicals company’s stock valued at $2,233,000 after acquiring an additional 5,930 shares in the last quarter. National Bank of Canada FI raised its stake in PPG Industries by 13.7% during the 1st quarter. National Bank of Canada FI now owns 119,924 shares of the specialty chemicals company’s stock valued at $16,229,000 after acquiring an additional 14,473 shares in the last quarter. Pitcairn Co. raised its stake in PPG Industries by 16.3% during the 1st quarter. Pitcairn Co. now owns 1,623 shares of the specialty chemicals company’s stock valued at $235,000 after acquiring an additional 228 shares in the last quarter. Finally, Natixis bought a new stake in PPG Industries during the 1st quarter valued at $1,926,000. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Mizuho lowered their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price target on 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. JPMorgan Chase & Co. lowered their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by insiders.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $121.29 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. The stock has a market capitalization of $28.14 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.87 and a beta of 1.26. The stock’s fifty day simple moving average is $127.14 and its 200 day simple moving average is $127.59. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.07 EPS. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal 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 given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

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.