PPG Industries, Inc. (NYSE:PPG) Shares Sold by Godsey & Gibb Inc.

Godsey & Gibb Inc. lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,375 shares of the specialty chemicals company’s stock after selling 100 shares during the period. Godsey & Gibb Inc.’s holdings in PPG Industries were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new stake in PPG Industries during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. increased its holdings in PPG Industries by 465.1% in 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 in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries in the third quarter worth about $34,000. Hara Capital LLC purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of PPG Industries during the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries 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 owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PPG shares. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Mizuho cut their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Citigroup reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Stock Performance

PPG opened at $117.63 on Thursday. The firm has a market capitalization of $27.29 billion, a PE ratio of 18.64, a PEG ratio of 1.77 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.86. The firm’s 50-day moving average price is $121.66 and its 200 day moving average price is $124.91.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $2.07 earnings per share. As a group, sell-side analysts expect that PPG Industries, Inc. will post 8.15 EPS for the current fiscal year.

PPG Industries Profile

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.