PPG Industries, Inc. (NYSE:PPG) Shares Sold by Smithfield Trust Co

Smithfield Trust Co decreased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,931 shares of the specialty chemicals company's stock after selling 2,451 shares during the quarter. PPG Industries accounts for about 0.7% of Smithfield Trust Co's investment portfolio, making the stock its 28th largest holding. Smithfield Trust Co owned approximately 0.05% of PPG Industries worth $14,570,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries during the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. boosted its stake 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 purchased a new position in shares of PPG Industries during the 3rd quarter valued at approximately $34,000. Albion Financial Group UT purchased a new position in shares of PPG Industries during the 4th quarter valued at approximately $38,000. Finally, Hara Capital LLC purchased a new position in shares of PPG Industries during the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analyst Weigh In

PPG has been the subject of several research analyst reports. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $138.15.

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PPG Industries Stock Performance

PPG stock traded up $0.10 during mid-day trading on Friday, reaching $115.47. The company had a trading volume of 2,170,716 shares, compared to its average volume of 1,621,085. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $26.21 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a one year low of $109.15 and a one year high of $145.61. The stock's 50-day simple moving average is $116.82 and its two-hundred day simple moving average is $122.77.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is 57.51%.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.55% of the company's stock.

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.