Wesbanco Bank Inc. Sells 947 Shares of PPG Industries, Inc. (NYSE:PPG)

Wesbanco Bank Inc. lowered its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,937 shares of the specialty chemicals company’s stock after selling 947 shares during the quarter. Wesbanco Bank Inc.’s holdings in PPG Industries were worth $7,637,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in PPG Industries during the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the 3rd quarter worth about $34,000. Hara Capital LLC bought a new stake in shares of PPG Industries in the 3rd quarter worth about $40,000. Finally, Albion Financial Group UT bought a new stake in shares of PPG Industries in the 4th quarter worth about $38,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the subject of several analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Finally, 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 on the stock in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $149.23.

PPG Industries Trading Down 0.3 %

NYSE PPG opened at $122.94 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company’s 50-day simple moving average is $121.18 and its two-hundred day simple moving average is $124.75. PPG Industries, Inc. has a one year low of $113.00 and a one year high of $145.60.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries 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 transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company’s stock.

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.