PPG Industries, Inc. (NYSE:PPG) CEO Timothy M. Knavish Buys 2,061 Shares

PPG Industries, Inc. (NYSE:PPG - Get Free Report) CEO Timothy M. Knavish bought 2,061 shares of the company's stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,774,388.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

PPG Industries Stock Performance

PPG stock traded up $1.56 during mid-day trading on Thursday, reaching $134.35. 1,271,735 shares of the stock traded hands, compared to its average volume of 1,767,595. The business has a 50-day moving average of $137.70 and a two-hundred day moving average of $139.11. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The firm has a market capitalization of $31.51 billion, a PE ratio of 22.69, a P/E/G ratio of 1.65 and a beta of 1.30. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the business posted $1.82 EPS. The business's quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that PPG Industries, Inc. will post 8.45 EPS for the current fiscal year.

PPG Industries declared that its Board of Directors has approved a stock repurchase program on Thursday, April 18th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the specialty chemicals company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries's dividend payout ratio is presently 43.92%.

Analyst Upgrades and Downgrades

PPG has been the topic of several recent analyst reports. Barclays cut their target price on shares of PPG Industries from $149.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Monday, April 22nd. Citigroup dropped their price target on PPG Industries from $170.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on PPG Industries from $160.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Wolfe Research assumed coverage on shares of PPG Industries in a research report on Friday, March 1st. They issued a "peer perform" rating for the company. Finally, Royal Bank of Canada lowered their price objective on shares of PPG Industries from $156.00 to $141.00 and set a "sector perform" rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $155.47.

Institutional Investors Weigh In On PPG Industries

A number of institutional investors have recently bought and sold shares of the business. Valued Wealth Advisors LLC bought a new position in shares of PPG Industries during the 4th quarter worth about $26,000. Private Wealth Management Group LLC acquired a new stake in PPG Industries during the fourth quarter valued at approximately $27,000. SJS Investment Consulting Inc. grew its stake in shares of PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company's stock valued at $27,000 after purchasing an additional 153 shares during the period. CVA Family Office LLC acquired a new position in shares of PPG Industries in the 4th quarter worth approximately $28,000. Finally, Richardson Financial Services Inc. bought a new position in shares of PPG Industries during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 81.86% of the company's stock.

About PPG Industries

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.

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