Verity & Verity LLC Sells 431 Shares of PPG Industries, Inc. (NYSE:PPG)

Verity & Verity LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,646 shares of the specialty chemicals company’s stock after selling 431 shares during the period. Verity & Verity LLC’s holdings in PPG Industries were worth $3,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cullinan Associates Inc. bought a new position in PPG Industries during the 4th quarter worth $345,000. Foundations Investment Advisors LLC bought a new position in PPG Industries during the 4th quarter worth $395,000. Coldstream Capital Management Inc. bought a new position in PPG Industries during the 4th quarter worth $650,000. Yousif Capital Management LLC increased its position in PPG Industries by 3.7% during the 4th quarter. Yousif Capital Management LLC now owns 84,221 shares of the specialty chemicals company’s stock worth $10,590,000 after buying an additional 3,008 shares during the period. Finally, General Partner Inc. bought a new position in PPG Industries during the 4th quarter worth $81,000. Institutional investors own 80.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Credit Suisse Group increased their price objective on PPG Industries from $104.00 to $118.00 and gave the stock an “underperform” rating in a research report on Friday, January 20th. JPMorgan Chase & Co. increased their target price on PPG Industries from $116.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. Vertical Research lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, January 23rd. UBS Group increased their target price on PPG Industries from $144.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on PPG Industries from $128.00 to $145.00 in a report on Monday, January 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, PPG Industries has an average rating of “Hold” and a consensus price target of $135.84.

PPG Industries Price Performance

PPG Industries stock opened at $122.49 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $28.83 billion, a PE ratio of 28.29, a P/E/G ratio of 2.75 and a beta of 1.17. PPG Industries, Inc. has a 12 month low of $107.06 and a 12 month high of $138.10. The stock has a 50-day moving average price of $129.68 and a two-hundred day moving average price of $124.80.

PPG Industries (NYSE:PPG – Get Rating) last posted its earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a return on equity of 22.55% and a net margin of 5.81%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. Analysts expect that PPG Industries, Inc. will post 6.52 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 17th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, February 16th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.02%. PPG Industries’s dividend payout ratio (DPR) is 57.27%.

Insider Transactions at PPG Industries

In other news, Chairman Michael H. Mcgarry sold 61,867 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the completion of the transaction, the chairman now directly owns 183,645 shares in the company, valued at $23,866,504.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Michael H. Mcgarry sold 61,867 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the completion of the transaction, the chairman now directly owns 183,645 shares in the company, valued at $23,866,504.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Anne M. Foulkes sold 21,757 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total value of $2,792,075.81. Following the transaction, the vice president now owns 10,577 shares of the company’s stock, valued at $1,357,346.41. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

PPG Industries Company Profile

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.