Miracle Mile Advisors LLC Buys Shares of 2,416 PPG Industries, Inc. (NYSE:PPG)

Miracle Mile Advisors LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,416 shares of the specialty chemicals company's stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Insight Folios Inc raised its position in shares of PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company's stock worth $294,000 after purchasing an additional 81 shares during the period. Bradley Foster & Sargent Inc. CT lifted 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 valued at $669,000 after buying an additional 90 shares in the last quarter. Alpha DNA Investment Management LLC lifted its stake in PPG Industries by 1.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company's stock valued at $1,105,000 after buying an additional 92 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock worth $1,027,000 after buying an additional 93 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in shares of PPG Industries by 1.3% in the third quarter. Kingsview Wealth Management LLC now owns 8,185 shares of the specialty chemicals company's stock worth $1,084,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Performance

Shares of PPG Industries stock traded up $0.54 on Friday, reaching $120.14. The stock had a trading volume of 2,686,240 shares, compared to its average volume of 2,026,297. PPG Industries, Inc. has a fifty-two week low of $113.00 and a fifty-two week high of $145.86. The stock has a market cap of $27.87 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. The business's 50-day moving average price is $121.37 and its two-hundred day moving average price is $124.83. 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 (NYSE:PPG - Get Free Report) last announced 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 company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 EPS. On average, sell-side analysts forecast that PPG Industries, Inc. will post 8.15 EPS for the current year.

PPG Industries Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PPG. BMO Capital Markets restated an "outperform" rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Citigroup lowered their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. Mizuho decreased their price objective on PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com downgraded PPG Industries from a "strong-buy" rating to a "buy" rating in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, PPG Industries has an average rating of "Moderate Buy" and a consensus target price of $149.29.

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.