Intrust Bank NA Has $240,000 Holdings in PPG Industries, Inc. (NYSE:PPG)

Intrust Bank NA decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,013 shares of the specialty chemicals company’s stock after selling 244 shares during the quarter. Intrust Bank NA’s holdings in PPG Industries were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new stake in PPG Industries during the 4th quarter valued at $27,000. Albion Financial Group UT acquired a new position in shares of PPG Industries during the fourth quarter valued at about $38,000. Crews Bank & Trust bought a new stake in shares of PPG Industries during the fourth quarter worth about $42,000. Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries in the 4th quarter worth about $44,000. Finally, Millstone Evans Group LLC bought a new position in PPG Industries in the 4th quarter valued at about $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG Industries stock opened at $107.32 on Monday. The business’s 50 day simple moving average is $115.37 and its 200 day simple moving average is $121.17. PPG Industries, Inc. has a 12 month low of $105.64 and a 12 month high of $145.61. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.53%. PPG Industries’s dividend payout ratio is presently 57.51%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

PPG has been the subject of a number of recent research reports. Mizuho decreased their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Argus cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $138.15.

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.