Greenleaf Trust Sells 552 Shares of PPG Industries, Inc. (NYSE:PPG)

Posted by Defense World Staff on Apr 7th, 2023

Greenleaf Trust lessened its holdings in PPG Industries, Inc. (NYSE:PPG – Get Rating) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,927 shares of the specialty chemicals company’s stock after selling 552 shares during the quarter. Greenleaf Trust’s holdings in PPG Industries were worth $620,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PPG. Guardian Wealth Advisors LLC acquired a new stake in PPG Industries during the 3rd quarter worth $27,000. Parkside Financial Bank & Trust increased its holdings in PPG Industries by 45.8% in the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. CVA Family Office LLC lifted its stake in PPG Industries by 312.5% in the third quarter. CVA Family Office LLC now owns 330 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 250 shares during the period. Achmea Investment Management B.V. bought a new position in PPG Industries during the first quarter worth about $40,000. Finally, Horan Securities Inc. acquired a new position in shares of PPG Industries during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 80.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho restated a “buy” rating and set a $142.00 price objective on shares of PPG Industries in a report on Tuesday, February 7th. KeyCorp upped their price objective on shares of PPG Industries from $144.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. BNP Paribas lowered PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a report on Monday, January 23rd. Wells Fargo & Company increased their price target on PPG Industries from $124.00 to $143.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Morgan Stanley boosted their price objective on PPG Industries from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average target price of $139.95.

Insiders Place Their Bets

In other news, Chairman Michael H. Mcgarry sold 61,867 shares of the business’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the transaction, the chairman now directly owns 183,645 shares in the company, valued at approximately $23,866,504.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Michael H. Mcgarry sold 61,867 shares of PPG Industries stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the completion of the transaction, the chairman now owns 183,645 shares in the company, valued at $23,866,504.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Anne M. Foulkes sold 21,757 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $128.33, for a total value of $2,792,075.81. Following the completion of the sale, the vice president now directly owns 10,577 shares of the company’s stock, valued at $1,357,346.41. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

PPG Industries Trading Down 0.6 %

Shares of NYSE:PPG opened at $138.07 on Friday. The stock has a market capitalization of $32.50 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 3.02 and a beta of 1.17. The company’s 50-day moving average price is $129.81 and its two-hundred day moving average price is $125.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.52 and a quick ratio of 1.04. PPG Industries, Inc. has a one year low of $107.06 and a one year high of $140.22.

PPG Industries (NYSE:PPG – Get Rating) last issued its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.14 by $0.08. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.12 billion. PPG Industries had a return on equity of 22.55% and a net margin of 5.81%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 earnings per share. On average, equities analysts forecast that PPG Industries, Inc. will post 6.77 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $2.48 dividend on an annualized basis and a yield of 1.80%. PPG Industries’s payout ratio is 57.27%.

About PPG Industries

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.