Nicolet Advisory Services LLC Sells 1,289 Shares of PPG Industries, Inc. (NYSE:PPG)

Nicolet Advisory Services LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,613 shares of the specialty chemicals company’s stock after selling 1,289 shares during the quarter. Nicolet Advisory Services LLC’s holdings in PPG Industries were worth $334,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the second quarter worth $25,000. Capital Performance Advisors LLP acquired a new stake in PPG Industries in the 3rd quarter worth about $34,000. Rothschild Investment LLC bought a new stake in PPG Industries in the 2nd quarter valued at about $37,000. Hara Capital LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of PPG Industries during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s 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 sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Stock Performance

NYSE PPG opened at $122.65 on Monday. The company has a market capitalization of $28.45 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.88 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The stock has a fifty day simple moving average of $127.00 and a 200 day simple moving average of $127.40.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

Analyst Ratings Changes

PPG has been the subject of several recent research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Mizuho reduced their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. 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 report on Tuesday, October 22nd. Finally, StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

About PPG Industries

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.