Ferguson Wellman Capital Management Inc. Sells 62,545 Shares of PPG Industries, Inc. (NYSE:PPG)

Ferguson Wellman Capital Management Inc. reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 24.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 195,126 shares of the specialty chemicals company's stock after selling 62,545 shares during the period. Ferguson Wellman Capital Management Inc. owned approximately 0.08% of PPG Industries worth $25,846,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PPG. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company's stock worth $4,159,074,000 after acquiring an additional 4,222,402 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company's stock worth $276,576,000 after purchasing an additional 368,410 shares during the last quarter. Federated Hermes Inc. lifted its stake in PPG Industries by 91.0% in the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company's stock worth $65,905,000 after purchasing an additional 249,406 shares during the last quarter. SG Americas Securities LLC lifted its stake in PPG Industries by 549.0% in the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company's stock worth $32,246,000 after purchasing an additional 216,675 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in PPG Industries in the first quarter worth $31,033,000. 81.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PPG has been the subject of several recent research reports. Royal Bank of Canada lowered their price target on shares of PPG Industries from $140.00 to $139.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 23rd. Bank of America lowered their price objective on shares of PPG Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, July 22nd. UBS Group upped their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, July 19th. KeyCorp lowered their price objective on shares of PPG Industries from $162.00 to $153.00 and set an "overweight" rating for the company in a research note on Monday, July 22nd. Finally, BMO Capital Markets set a $160.00 price objective on shares of PPG Industries in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.50.

PPG Industries Stock Down 0.3 %

PPG traded down $0.43 during midday trading on Friday, reaching $130.93. The company's stock had a trading volume of 2,174,631 shares, compared to its average volume of 1,601,597. The firm has a market capitalization of $30.55 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.73 and a beta of 1.26. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The stock's 50-day moving average is $127.21 and its 200-day moving average is $129.10.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data 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). The business 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 23.57% and a net margin of 7.98%. PPG Industries's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.07 EPS. As a group, research analysts expect that PPG Industries, Inc. will post 8.24 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's dividend payout ratio (DPR) is presently 44.59%.

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.