PPG Industries, Inc. (NYSE:PPG) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 744,994 shares of the specialty chemicals company's stock after selling 60,868 shares during the quarter. Kovitz Investment Group Partners LLC owned 0.32% of PPG Industries worth $98,745,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Financial Connections Group Inc. purchased a new position in shares of PPG Industries during the 2nd quarter worth about $25,000. Pin Oak Investment Advisors Inc. lifted its stake in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries during the third quarter valued at approximately $34,000. Rothschild Investment LLC bought a new position in shares of PPG Industries during the second quarter valued at approximately $37,000. Finally, Hara Capital LLC purchased a new stake in shares of PPG Industries in the third quarter worth approximately $40,000. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 0.1 %

PPG traded up $0.07 during trading on Friday, hitting $125.57. The stock had a trading volume of 2,500,557 shares, compared to its average volume of 1,382,153. The stock has a 50 day simple moving average of $126.38 and a two-hundred day simple moving average of $126.88. The company has a market capitalization of $29.13 billion, a PE ratio of 19.90, a PEG ratio of 1.94 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16.

PPG Industries (NYSE:PPG - Get Free Report) last announced its 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 business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.07 earnings per share. On average, research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

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

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm's stock in a transaction dated 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 transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. 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 report on Monday, October 21st. Royal Bank of Canada reduced their price target on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 22nd. Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. StockNews.com downgraded shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. lowered 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. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.93.

PPG Industries Company 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.