First National Trust Co Sells 308 Shares of PPG Industries, Inc. (NYSE:PPG)

First National Trust Co decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,085 shares of the specialty chemicals company’s stock after selling 308 shares during the period. First National Trust Co’s holdings in PPG Industries were worth $2,877,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries during the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. boosted its stake 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 worth $32,000 after acquiring an additional 200 shares in the last quarter. Albion Financial Group UT bought a new stake in PPG Industries during the fourth quarter worth about $38,000. Crews Bank & Trust bought a new stake in PPG Industries during the fourth quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC bought a new stake in PPG Industries during the fourth quarter worth about $44,000. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PPG shares. Mizuho dropped their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Stock Performance

PPG stock opened at $113.65 on Friday. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. The stock’s fifty day moving average price is $116.36 and its 200-day moving average price is $122.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market cap of $25.80 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.39%. PPG Industries’s payout ratio is presently 57.51%.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’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 sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.33% 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.