PPG Industries, Inc. (NYSE:PPG) CEO Sells $3,958,500.00 in Stock

PPG Industries, Inc. (NYSE:PPG) CEO Michael H. Mcgarry sold 30,450 shares of PPG Industries stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $130.00, for a total transaction of $3,958,500.00. Following the completion of the transaction, the chief executive officer now directly owns 149,884 shares in the company, valued at approximately $19,484,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PPG stock opened at $128.92 on Friday. The firm’s fifty day simple moving average is $121.01 and its 200-day simple moving average is $115.87. The company has a market capitalization of $30.68 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.49 and a quick ratio of 1.08. PPG Industries, Inc. has a 12 month low of $94.41 and a 12 month high of $130.42.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.61 by $0.06. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 6.25 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, November 8th. PPG Industries’s dividend payout ratio (DPR) is currently 34.46%.

Several hedge funds have recently added to or reduced their stakes in PPG. MUFG Americas Holdings Corp lifted its stake in shares of PPG Industries by 2.6% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16,724 shares of the specialty chemicals company’s stock valued at $1,982,000 after purchasing an additional 417 shares during the period. Smith Shellnut Wilson LLC ADV lifted its stake in shares of PPG Industries by 5.6% in the 3rd quarter. Smith Shellnut Wilson LLC ADV now owns 4,035 shares of the specialty chemicals company’s stock valued at $478,000 after purchasing an additional 214 shares during the period. First Allied Advisory Services Inc. lifted its stake in shares of PPG Industries by 3.4% in the 3rd quarter. First Allied Advisory Services Inc. now owns 6,334 shares of the specialty chemicals company’s stock valued at $751,000 after purchasing an additional 210 shares during the period. Trillium Asset Management LLC lifted its stake in shares of PPG Industries by 11.9% in the 3rd quarter. Trillium Asset Management LLC now owns 5,225 shares of the specialty chemicals company’s stock valued at $619,000 after purchasing an additional 555 shares during the period. Finally, Great Lakes Advisors LLC lifted its stake in shares of PPG Industries by 94.7% in the 3rd quarter. Great Lakes Advisors LLC now owns 83,380 shares of the specialty chemicals company’s stock valued at $9,882,000 after purchasing an additional 40,552 shares during the period. 77.25% of the stock is currently owned by institutional investors and hedge funds.

PPG has been the topic of several research analyst reports. Barclays boosted their target price on shares of PPG Industries from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. ValuEngine downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Co initiated coverage on shares of PPG Industries in a research report on Tuesday, October 15th. They set an “outperform” rating and a $140.00 target price on the stock. JPMorgan Chase & Co. raised shares of PPG Industries from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $108.00 to $120.00 in a research report on Friday, October 18th. Finally, Citigroup dropped their target price on shares of PPG Industries from $136.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $128.44.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

Further Reading: Intrinsic Value

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