Glenmede Trust Co. NA Cuts Holdings in PPG Industries, Inc. (NYSE:PPG)

Glenmede Trust Co. NA lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.6% in the third quarter, Holdings Channel.com reports. The fund owned 263,455 shares of the specialty chemicals company’s stock after selling 12,689 shares during the quarter. Glenmede Trust Co. NA’s holdings in PPG Industries were worth $34,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. Townsquare Capital LLC boosted its position in PPG Industries by 12.7% in the 3rd quarter. Townsquare Capital LLC now owns 7,232 shares of the specialty chemicals company’s stock valued at $958,000 after buying an additional 813 shares during the last quarter. Transamerica Financial Advisors Inc. grew its position in shares of PPG Industries by 54.1% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,165 shares of the specialty chemicals company’s stock worth $155,000 after acquiring an additional 409 shares in the last quarter. Brooklyn Investment Group bought a new stake in PPG Industries during the third quarter valued at $79,000. Prospector Partners LLC grew its position in shares of PPG Industries by 6.1% during the 3rd quarter. Prospector Partners LLC now owns 144,651 shares of the specialty chemicals company’s stock valued at $19,160,000 after buying an additional 8,269 shares during the last quarter. Finally, FMR LLC raised its position in shares of PPG Industries by 68.3% during the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after purchasing an additional 354,740 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Up 0.0 %

Shares of NYSE PPG opened at $123.41 on Thursday. 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 12 month low of $118.07 and a 12 month high of $151.16. The company has a market cap of $28.63 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.92 and a beta of 1.26. The business has a fifty day simple moving average of $126.80 and a 200-day simple moving average of $127.22.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. During the same quarter in the previous year, the firm posted $2.07 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho dropped their price objective 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 reduced their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insider Activity at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on 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 directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by company insiders.

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.