Centiva Capital LP Sells 10,233 Shares of PPG Industries, Inc. (NYSE:PPG)

Centiva Capital LP lessened its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 51.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,787 shares of the specialty chemicals company's stock after selling 10,233 shares during the period. Centiva Capital LP's holdings in PPG Industries were worth $1,296,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Financial Connections Group Inc. acquired a new position in PPG Industries in the second quarter worth $25,000. Pin Oak Investment Advisors Inc. grew its position in shares of PPG Industries by 465.1% during the 3rd 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 during the last quarter. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the third quarter worth about $34,000. Rothschild Investment LLC bought a new position in PPG Industries in the second quarter worth about $37,000. Finally, Hara Capital LLC acquired a new position in PPG Industries in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Insider Buying and Selling at PPG Industries

In related 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 value of $249,713.00. Following the completion of the sale, the vice president now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

PPG has been the subject of a number of analyst reports. Mizuho reduced 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. StockNews.com lowered shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 27th. Royal Bank of Canada cut their price objective on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets restated an "outperform" rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a research report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, PPG Industries currently has an average rating of "Moderate Buy" and a consensus target price of $149.93.

PPG Industries Price Performance

Shares of NYSE PPG traded down $1.33 during midday trading on Thursday, reaching $125.50. The company's stock had a trading volume of 3,389,705 shares, compared to its average volume of 1,593,791. The company has a market cap of $29.12 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a 50 day moving average price of $126.56 and a 200 day moving average price of $126.89. 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 - Get Free Report) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analysts' expectations 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 was down 1.5% on a year-over-year basis. During the same period last year, the business earned $2.07 earnings per share. On average, equities research analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. PPG Industries's payout ratio is 43.11%.

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.