Nicolet Advisory Services LLC Sells 1,289 Shares of PPG Industries, Inc. (NYSE:PPG)

Nicolet Advisory Services LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 33.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,613 shares of the specialty chemicals company’s stock after selling 1,289 shares during the period. Nicolet Advisory Services LLC’s holdings in PPG Industries were worth $334,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after acquiring an additional 368,410 shares during the period. Boston Partners increased its holdings in PPG Industries by 4.9% in the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock worth $248,172,000 after acquiring an additional 80,710 shares during the last quarter. ProShare Advisors LLC raised its stake in PPG Industries by 12.2% in the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after acquiring an additional 152,719 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in PPG Industries by 9.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock valued at $162,862,000 after purchasing an additional 100,391 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PPG. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Mizuho decreased their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is currently owned by company insiders.

PPG Industries Price Performance

Shares of PPG stock opened at $122.65 on Monday. The business’s fifty day moving average is $127.00 and its 200 day moving average is $127.40. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.88 and a beta of 1.26. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the company earned $2.07 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio is currently 43.11%.

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.