Kentucky Retirement Systems Insurance Trust Fund Sells 684 Shares of PPG Industries, Inc. (NYSE:PPG)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,907 shares of the specialty chemicals company’s stock after selling 684 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in PPG Industries were worth $915,000 as of its most recent filing with the Securities and Exchange Commission.

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

PPG Industries Stock Performance

PPG Industries stock opened at $122.53 on Monday. The stock has a 50-day simple moving average of $127.37 and a 200 day simple moving average of $127.78. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.87 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 12-month low of $118.07 and a 12-month high of $151.16.

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

PPG Industries Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup lowered their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada dropped 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 note on Tuesday, October 22nd. Bank of America decreased their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. KeyCorp dropped their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Barclays decreased their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $149.93.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Company 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.