JGP Wealth Management LLC Invests $4.05 Million in PPG Industries, Inc. (NYSE:PPG)

JGP Wealth Management LLC bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 33,903 shares of the specialty chemicals company's stock, valued at approximately $4,050,000.

Several other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. raised its position in shares of PPG Industries by 176.4% in the 2nd quarter. American Century Companies Inc. now owns 226,215 shares of the specialty chemicals company's stock worth $28,478,000 after buying an additional 144,357 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in PPG Industries by 1.7% during the second 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. Mercer Global Advisors Inc. ADV raised its holdings in shares of PPG Industries by 5.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 21,987 shares of the specialty chemicals company's stock worth $2,954,000 after purchasing an additional 1,105 shares during the period. Argent Trust Co lifted its stake in shares of PPG Industries by 9.3% in the 2nd quarter. Argent Trust Co now owns 2,187 shares of the specialty chemicals company's stock valued at $275,000 after purchasing an additional 186 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of PPG Industries by 50.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,866 shares of the specialty chemicals company's stock worth $1,983,000 after purchasing an additional 5,352 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PPG has been the topic of several research reports. Citigroup cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. StockNews.com cut shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 20th. BMO Capital Markets restated an "outperform" rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, KeyCorp downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of "Moderate Buy" and an average target price of $149.29.

PPG Industries Stock Performance

PPG Industries stock traded up $0.54 during mid-day trading on Friday, reaching $120.14. The company's stock had a trading volume of 2,686,240 shares, compared to its average volume of 2,066,922. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.86. The business has a 50 day moving average price of $121.37 and a 200-day moving average price of $124.83. The firm has a market cap of $27.87 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.77 and a beta of 1.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. Sell-side analysts predict that PPG Industries, Inc. will post 8.15 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, February 21st. PPG Industries's payout ratio is currently 43.11%.

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.