Park National Corp OH Reduces Position in PPG Industries, Inc. (NYSE:PPG)

Park National Corp OH lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,125 shares of the specialty chemicals company’s stock after selling 340 shares during the quarter. Park National Corp OH’s holdings in PPG Industries were worth $493,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PPG. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $27,000. Nordea Investment Management AB grew its holdings in PPG Industries by 3.7% during the 4th quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company’s stock worth $2,328,000 after acquiring an additional 687 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of PPG Industries by 8.9% in the 4th quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company’s stock valued at $731,000 after purchasing an additional 498 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after purchasing an additional 170,339 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in PPG Industries by 1.2% in the third quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company’s stock valued at $1,763,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PPG. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada lowered their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by corporate insiders.

PPG Industries Stock Down 0.2 %

PPG stock opened at $115.66 on Thursday. The firm’s 50-day moving average is $122.43 and its two-hundred day moving average is $125.22. 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 market capitalization of $26.83 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. PPG Industries, Inc. has a 52 week low of $113.49 and a 52 week high of $147.76.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share 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 firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company earned $2.07 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.35%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

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.