Jean-Marie Greindl Sells 9,500 Shares of PPG Industries, Inc. (PPG) Stock

PPG Industries, Inc. (NYSE:PPG) VP Jean-Marie Greindl sold 9,500 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the sale, the vice president now directly owns 27,685 shares of the company’s stock, valued at $3,205,646.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

PPG Industries, Inc. (PPG) traded up $1.22 during trading hours on Friday, hitting $117.08. 355,710 shares of the stock were exchanged, compared to its average volume of 1,630,725. The company has a market cap of $29,680.00, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. PPG Industries, Inc. has a one year low of $100.34 and a one year high of $122.07. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.61 billion. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.19 EPS. equities research analysts predict that PPG Industries, Inc. will post 6.57 earnings per share for the current fiscal year.

PPG Industries declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Thursday, February 15th. PPG Industries’s payout ratio is 34.29%.

Hedge funds have recently made changes to their positions in the stock. G&S Capital LLC bought a new position in PPG Industries during the 4th quarter valued at about $110,000. Cerebellum GP LLC bought a new position in PPG Industries during the 4th quarter valued at about $128,000. SeaCrest Wealth Management LLC bought a new position in PPG Industries during the 4th quarter valued at about $132,000. Crewe Advisors LLC bought a new position in PPG Industries during the 4th quarter valued at about $136,000. Finally, NuWave Investment Management LLC bought a new position in PPG Industries during the 4th quarter valued at about $150,000. 73.53% of the stock is owned by hedge funds and other institutional investors.

PPG has been the subject of a number of research reports. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Royal Bank of Canada reissued a “hold” rating and issued a $115.00 price target on shares of PPG Industries in a report on Wednesday, January 17th. Raymond James Financial initiated coverage on shares of PPG Industries in a report on Tuesday, December 19th. They issued an “outperform” rating and a $139.00 price target for the company. Jefferies Group reissued a “buy” rating and issued a $135.00 price target on shares of PPG Industries in a report on Wednesday, January 3rd. Finally, Atlantic Securities downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 17th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. PPG Industries presently has a consensus rating of “Hold” and an average price target of $123.75.

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About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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