Asset Dedication LLC Buys 2,591 Shares of PPG Industries, Inc. (NYSE:PPG)

Asset Dedication LLC increased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 1,542.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,759 shares of the specialty chemicals company's stock after purchasing an additional 2,591 shares during the period. Asset Dedication LLC's holdings in PPG Industries were worth $330,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PPG. Legend Financial Advisors Inc. bought a new position in PPG Industries during the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. lifted its stake in 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 valued at $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in PPG Industries during the 3rd quarter valued at about $34,000. Albion Financial Group UT bought a new position in PPG Industries during the 4th quarter valued at about $38,000. Finally, Hara Capital LLC bought a new position in PPG Industries during the 3rd quarter valued at about $40,000. Institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

PPG traded up $0.41 during trading on Thursday, reaching $122.79. 2,768,287 shares of the company traded hands, compared to its average volume of 2,080,231. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 12-month low of $113.00 and a 12-month high of $145.60. The firm has a fifty day simple moving average of $121.25 and a 200 day simple moving average of $124.58. The company has a market cap of $28.49 billion, a P/E ratio of 19.46, a PEG ratio of 1.93 and a beta of 1.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. On average, equities analysts forecast that PPG Industries, Inc. will post 8.15 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries's dividend payout ratio is currently 43.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PPG shares. Citigroup lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Mizuho reduced their price target on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. StockNews.com lowered shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a report on Friday, December 20th. Finally, Royal Bank of Canada reduced 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. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of "Moderate Buy" and an average price target of $149.23.

PPG Industries 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.