Legacy Capital Group California Inc. Invests $557,000 in PPG Industries, Inc. (NYSE:PPG)

Legacy Capital Group California Inc. purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,665 shares of the specialty chemicals company's stock, valued at approximately $557,000.

Several other hedge funds have also recently bought and sold shares of PPG. PUREfi Wealth LLC bought a new position in shares of PPG Industries during the fourth quarter worth approximately $279,000. PFW Advisors LLC acquired a new position in PPG Industries in the 4th quarter valued at $868,000. Equity Investment Corp increased its position in PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company's stock worth $86,006,000 after buying an additional 42,380 shares during the period. JGP Wealth Management LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $4,050,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company's stock valued at $340,654,000 after acquiring an additional 15,161 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Up 0.7 %

NYSE PPG traded up $0.76 during trading hours on Tuesday, reaching $114.29. The company's stock had a trading volume of 2,263,884 shares, compared to its average volume of 2,087,640. The firm has a fifty day simple moving average of $118.11 and a 200-day simple moving average of $123.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The stock has a market cap of $25.94 billion, a P/E ratio of 24.16, a P/E/G ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly 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 return on equity of 23.78% and a net margin of 6.41%. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.38%. PPG Industries's payout ratio is 57.51%.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PPG. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. 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 report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft dropped their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Finally, KeyCorp lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has an average rating of "Moderate Buy" and an average price target of $138.15.

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.