CWA Asset Management Group LLC Invests $1.01 Million in PPG Industries, Inc. (NYSE:PPG)

CWA Asset Management Group LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,643 shares of the specialty chemicals company's stock, valued at approximately $1,012,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vest Financial LLC raised its holdings in shares of PPG Industries by 28.9% during the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company's stock worth $42,516,000 after purchasing an additional 75,620 shares during the period. BDF Gestion bought a new position in shares of PPG Industries during the 2nd quarter valued at about $3,452,000. State Board of Administration of Florida Retirement System boosted its position in shares of PPG Industries by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company's stock valued at $36,620,000 after purchasing an additional 22,079 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of PPG Industries by 17.2% in the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company's stock worth $4,159,074,000 after buying an additional 4,222,402 shares during the period. Finally, Ritholtz Wealth Management acquired a new position in shares of PPG Industries in the third quarter worth about $604,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of PPG Industries stock traded up $0.33 on Monday, hitting $125.85. 332,183 shares of the company traded hands, compared to its average volume of 1,587,750. The firm's 50-day simple moving average is $127.72 and its 200 day simple moving average is $128.01. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a market cap of $29.20 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.92 and a beta of 1.26. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analysts' expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company's revenue was down 1.5% on a year-over-year basis. During the same period last year, the business earned $2.07 earnings per share. Analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid 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 2.16%. PPG Industries's payout ratio is presently 43.11%.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

PPG has been the subject of several research reports. Barclays decreased their price target on shares of PPG Industries from $148.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, July 22nd. Bank of America decreased their price target on shares of PPG Industries from $152.00 to $150.00 and set a "buy" rating for the company in a report on Monday, July 22nd. Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. Finally, UBS Group raised their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.93.

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.