First National Trust Co Buys 212 Shares of PPG Industries, Inc. (NYSE:PPG)

First National Trust Co raised its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 25,394 shares of the specialty chemicals company’s stock after purchasing an additional 212 shares during the period. First National Trust Co’s holdings in PPG Industries were worth $3,798,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Invesco Ltd. grew its holdings in PPG Industries by 41.1% during the third quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock valued at $427,580,000 after purchasing an additional 959,849 shares during the period. Morgan Stanley grew its holdings in PPG Industries by 12.4% during the third quarter. Morgan Stanley now owns 3,102,602 shares of the specialty chemicals company’s stock valued at $402,718,000 after purchasing an additional 341,977 shares during the period. Northern Trust Corp grew its holdings in PPG Industries by 5.2% during the third quarter. Northern Trust Corp now owns 2,374,093 shares of the specialty chemicals company’s stock valued at $308,157,000 after purchasing an additional 117,526 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in PPG Industries by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,342,002 shares of the specialty chemicals company’s stock valued at $174,192,000 after purchasing an additional 9,530 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in PPG Industries by 16.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,041,804 shares of the specialty chemicals company’s stock valued at $154,219,000 after purchasing an additional 149,387 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PPG. Royal Bank of Canada lowered their price objective on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Bank of America lowered their price objective on PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Barclays lowered their price objective on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Citigroup lowered their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $155.47.

Insider Buying and Selling at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Trading Up 0.5 %

PPG stock traded up $0.67 during midday trading on Friday, reaching $132.92. 1,303,659 shares of the company traded hands, compared to its average volume of 1,969,299. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. The business has a 50 day moving average of $138.38 and a 200-day moving average of $138.87. The firm has a market capitalization of $31.17 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.64 and a beta of 1.30.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that PPG Industries, Inc. will post 8.45 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 1.96%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

PPG Industries declared that its board has approved a share repurchase plan on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.