Kesler Norman & Wride LLC Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Kesler Norman & Wride LLC reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 43.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,814 shares of the specialty chemicals company’s stock after selling 5,954 shares during the quarter. Kesler Norman & Wride LLC’s holdings in PPG Industries were worth $1,035,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new position in PPG Industries during the second quarter worth $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of PPG Industries during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new position in PPG Industries during the 4th quarter worth approximately $29,000. Riverview Trust Co acquired a new position in PPG Industries in the first quarter valued at $34,000. Finally, Rothschild Investment LLC acquired a new position in shares of PPG Industries in the second quarter valued at approximately $37,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $128.74 on Tuesday. The stock has a market capitalization of $30.04 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.76 and a beta of 1.26. The firm’s 50-day moving average price is $125.94 and its two-hundred day moving average price is $130.00. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) 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 company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the business posted $2.25 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PPG shares. Barclays dropped their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada dropped their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. UBS Group lifted their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. KeyCorp dropped their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, Bank of America reduced their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

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.