Chevy Chase Trust Holdings LLC Has $16.63 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Chevy Chase Trust Holdings LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,520 shares of the specialty chemicals company’s stock after selling 3,414 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in PPG Industries were worth $16,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Financial Connections Group Inc. acquired a new position in PPG Industries in the second quarter valued at about $25,000. Pin Oak Investment Advisors Inc. increased its stake in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of PPG Industries during the 3rd quarter worth approximately $34,000. Rothschild Investment LLC bought a new position in shares of PPG Industries in the second quarter valued at about $37,000. Finally, Hara Capital LLC bought a new stake in shares of PPG Industries during the third quarter worth approximately $40,000. Institutional investors own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $126.18 on Wednesday. The company’s 50 day moving average is $126.58 and its 200 day moving average is $126.89. The company has a market cap of $29.27 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. 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, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16.

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

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.16%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PPG. Royal Bank of Canada reduced their price objective 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. JPMorgan Chase & Co. cut their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

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.