Stifel Financial Corp Sells 26,557 Shares of PPG Industries, Inc. (NYSE:PPG)

Stifel Financial Corp lowered its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 18.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,146 shares of the specialty chemicals company's stock after selling 26,557 shares during the quarter. Stifel Financial Corp owned about 0.05% of PPG Industries worth $15,521,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of PPG Industries by 20.1% in the 2nd 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 in the last quarter. FMR LLC increased its position in shares of PPG Industries by 68.3% during the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock valued at $115,757,000 after acquiring an additional 354,740 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of PPG Industries by 189.6% during the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company's stock valued at $56,538,000 after purchasing an additional 279,455 shares during the last quarter. Federated Hermes Inc. raised its position 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 acquiring an additional 249,406 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in PPG Industries by 157.5% in the third quarter. Assenagon Asset Management S.A. now owns 316,161 shares of the specialty chemicals company's stock valued at $41,879,000 after acquiring an additional 193,402 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of NYSE PPG traded down $2.72 during midday trading on Wednesday, hitting $122.70. 1,043,714 shares of the company's stock were exchanged, compared to its average volume of 1,603,095. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The business's fifty day moving average price is $125.98 and its two-hundred day moving average price is $126.64. The company has a market cap of $28.47 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.92 and a beta of 1.24. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company earned $2.07 EPS. PPG Industries's quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's dividend payout ratio (DPR) is currently 43.11%.

Wall Street Analyst Weigh In

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

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company's stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.