PPG Industries, Inc. (NYSE:PPG) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,348 shares of the specialty chemicals company’s stock after selling 589 shares during the period. Wesbanco Bank Inc.’s holdings in PPG Industries were worth $6,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in PPG. PUREfi Wealth LLC purchased a new position in PPG Industries in the 4th quarter valued at approximately $279,000. Vanguard Group Inc. raised its stake in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after acquiring an additional 756,937 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in PPG Industries in the fourth quarter valued at $2,543,000. FourThought Financial Partners LLC acquired a new position in PPG Industries in the fourth quarter valued at $458,000. Finally, Empowered Funds LLC increased its stake in shares of PPG Industries by 20.9% during the fourth quarter. Empowered Funds LLC now owns 24,828 shares of the specialty chemicals company’s stock worth $2,966,000 after acquiring an additional 4,287 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PPG shares. Bank of America reiterated a “neutral” rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Citigroup cut their price objective on PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on PPG Industries from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Finally, UBS Group upped their price objective on PPG Industries from $110.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.42.

PPG Industries Stock Up 1.3%

Shares of PPG Industries stock opened at $112.66 on Monday. 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 fifty day moving average price of $106.52 and a 200 day moving average price of $113.78. The stock has a market cap of $25.57 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same period in the prior year, the company posted $1.87 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.41%. PPG Industries’s payout ratio is 58.24%.

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.