First Western Trust Bank Has $272,000 Position in PPG Industries, Inc. (NYSE:PPG)

First Western Trust Bank reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 14.6% in the 2nd quarter, Holdings Channel reports. The firm owned 2,159 shares of the specialty chemicals company’s stock after selling 369 shares during the period. First Western Trust Bank’s holdings in PPG Industries were worth $272,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. bought a new position in PPG Industries in the 2nd quarter worth approximately $25,000. Private Wealth Management Group LLC bought a new position in PPG Industries in the 4th quarter worth approximately $27,000. LifeSteps Financial Inc. bought a new position in PPG Industries in the 1st quarter worth approximately $29,000. YHB Investment Advisors Inc. bought a new position in PPG Industries in the 1st quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. bought a new position in PPG Industries in the 4th quarter worth approximately $29,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $125.31 on Friday. The business’s fifty day moving average price is $125.63 and its two-hundred day moving average price is $132.00. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the prior year, the business posted $2.25 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts predict that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is currently 45.95%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America dropped their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets dropped their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. UBS Group lifted their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. 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. Finally, Royal Bank of Canada lowered their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.08.

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.