Raymond James Trust N.A. Has $4.34 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Raymond James Trust N.A. increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,775 shares of the specialty chemicals company’s stock after purchasing an additional 894 shares during the quarter. Raymond James Trust N.A.’s holdings in PPG Industries were worth $4,341,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the 2nd quarter valued at $25,000. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries in the third quarter worth $34,000. Rothschild Investment LLC purchased a new stake in shares of PPG Industries during the second quarter worth $37,000. Hara Capital LLC acquired a new stake in PPG Industries during the third quarter valued at $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in PPG Industries in the third quarter valued at about $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 13,454 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Stock Down 0.0 %

PPG opened at $122.65 on Friday. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The business has a 50 day moving average of $127.00 and a 200-day moving average of $127.49. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 1.88 and a beta of 1.26. 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 (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 the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.07 earnings per share. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Analyst Upgrades and Downgrades

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

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.