Stifel Financial Corp Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

Stifel Financial Corp lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 18.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,146 shares of the specialty chemicals company’s stock after selling 26,557 shares during the quarter. Stifel Financial Corp owned about 0.05% of PPG Industries worth $15,521,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in shares of PPG Industries in the 3rd quarter worth about $617,000. Quantinno Capital Management LP increased its stake in PPG Industries by 89.5% during the third quarter. Quantinno Capital Management LP now owns 38,567 shares of the specialty chemicals company’s stock worth $5,109,000 after acquiring an additional 18,214 shares during the last quarter. Quarry LP lifted its stake in shares of PPG Industries by 971.9% in the 3rd quarter. Quarry LP now owns 11,673 shares of the specialty chemicals company’s stock valued at $1,546,000 after purchasing an additional 10,584 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of PPG Industries by 0.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 97,295 shares of the specialty chemicals company’s stock worth $12,888,000 after purchasing an additional 553 shares during the period. Finally, IHT Wealth Management LLC boosted its holdings in shares of PPG Industries by 35.7% in the 3rd quarter. IHT Wealth Management LLC now owns 4,592 shares of the specialty chemicals company’s stock worth $604,000 after purchasing an additional 1,208 shares during the period. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 27th. Mizuho cut their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $149.93.

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by corporate insiders.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $125.42 on Wednesday. The company has a 50 day moving average price of $126.09 and a 200 day moving average price of $126.69. The firm has a market capitalization of $29.10 billion, a P/E ratio of 19.88, a PEG ratio of 1.92 and a beta of 1.24. 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 52 week low of $118.07 and a 52 week high of $151.16.

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

PPG Industries Announces Dividend

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 given a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. PPG Industries’s dividend payout ratio is currently 43.11%.

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.