Wilmington Savings Fund Society FSB Boosts Stake in PPG Industries, Inc. (NYSE:PPG)

Wilmington Savings Fund Society FSB boosted its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 69.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,004 shares of the specialty chemicals company's stock after buying an additional 22,198 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in PPG Industries were worth $7,153,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PPG. Vest Financial LLC lifted its holdings in PPG Industries by 28.9% during the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company's stock valued at $42,516,000 after purchasing an additional 75,620 shares in the last quarter. Equity Investment Corp increased its position in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company's stock worth $86,006,000 after purchasing an additional 42,380 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in PPG Industries in the third quarter worth about $604,000. Swedbank AB lifted its stake in PPG Industries by 6.3% in the second quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company's stock worth $19,986,000 after acquiring an additional 9,412 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company's stock worth $340,654,000 after acquiring an additional 15,161 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PPG. Royal Bank of Canada lowered their price objective 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. StockNews.com raised shares of PPG Industries from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. dropped their price objective on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and an average target price of $149.93.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company's stock.

PPG Industries Stock Down 0.3 %

NYSE PPG traded down $0.43 during mid-day trading on Friday, reaching $123.59. 708,176 shares of the company's stock traded hands, compared to its average volume of 1,604,901. 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 company has a fifty day simple moving average of $125.74 and a 200-day simple moving average of $126.60. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a market cap of $28.67 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.88 and a beta of 1.24.

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

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. PPG Industries's dividend payout ratio is currently 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.