EP Wealth Advisors LLC Invests $838,000 in PPG Industries, Inc. (NYSE:PPG)

EP Wealth Advisors LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,328 shares of the specialty chemicals company's stock, valued at approximately $838,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPG. Insight Folios Inc lifted its stake in shares of PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company's stock worth $294,000 after buying an additional 81 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of PPG Industries by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company's stock worth $2,549,000 after purchasing an additional 82 shares during the last quarter. Klingman & Associates LLC grew its holdings in shares of PPG Industries by 2.6% in the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company's stock worth $419,000 after purchasing an additional 83 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company's stock worth $435,000 after purchasing an additional 86 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in PPG Industries by 1.7% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company's stock worth $669,000 after acquiring an additional 90 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

Shares of PPG stock traded down $2.83 during mid-day trading on Wednesday, hitting $122.59. 1,999,546 shares of the stock were exchanged, compared to its average volume of 1,607,985. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market capitalization of $28.44 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.92 and a beta of 1.24. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The stock's fifty day simple moving average is $125.98 and its two-hundred day simple moving average is $126.64.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 23.63% and a net margin of 8.24%. The business's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.07 EPS. On average, analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's dividend payout ratio (DPR) is presently 43.11%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries 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 completion of the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

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.