Procyon Advisors LLC Sells 83 Shares of PPG Industries, Inc. (NYSE:PPG)

Procyon Advisors LLC trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,421 shares of the specialty chemicals company’s stock after selling 83 shares during the quarter. Procyon Advisors LLC’s holdings in PPG Industries were worth $3,204,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PPG. Vontobel Holding Ltd. boosted its position in PPG Industries by 51.9% during the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock valued at $797,000 after acquiring an additional 2,048 shares in the last quarter. Sei Investments Co. raised its holdings in PPG Industries by 14.7% in the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock worth $3,099,000 after acquiring an additional 3,025 shares during the last quarter. Prudential PLC purchased a new position in PPG Industries in the 1st quarter worth approximately $619,000. Vanguard Group Inc. grew its position in PPG Industries by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after purchasing an additional 252,358 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in PPG Industries by 7.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock worth $2,553,000 after purchasing an additional 1,283 shares during the period. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PPG shares. Redburn Atlantic downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research report on Thursday, February 1st. Robert W. Baird reissued an “outperform” rating and set a $150.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. UBS Group reissued a “neutral” rating and set a $156.00 price objective (down previously from $173.00) on shares of PPG Industries in a research report on Thursday, March 7th. KeyCorp upped their target price on shares of PPG Industries from $166.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Finally, Barclays downgraded shares of PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $163.00 to $149.00 in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $157.13.

PPG Industries Trading Up 0.5 %

NYSE:PPG traded up $0.72 during midday trading on Thursday, hitting $145.26. 75,792 shares of the company traded hands, compared to its average volume of 1,760,693. The firm has a market capitalization of $34.19 billion, a P/E ratio of 27.07, a P/E/G ratio of 1.40 and a beta of 1.28. The firm’s fifty day moving average is $141.22 and its 200-day moving average is $138.04. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.04. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.45 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.79%. PPG Industries’s dividend payout ratio is 48.69%.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

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.