Moran Wealth Management LLC Makes New $5.04 Million Investment in PPG Industries, Inc. (NYSE:PPG)

Moran Wealth Management LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 42,182 shares of the specialty chemicals company's stock, valued at approximately $5,039,000.

Several other hedge funds have also bought and sold shares of the stock. Summit Global Investments purchased a new position in shares of PPG Industries in the third quarter valued at about $299,000. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries during the third quarter valued at approximately $34,000. Leavell Investment Management Inc. increased its holdings in shares of PPG Industries by 5.4% in the 3rd quarter. Leavell Investment Management Inc. now owns 2,915 shares of the specialty chemicals company's stock valued at $386,000 after acquiring an additional 150 shares during the period. CWA Asset Management Group LLC bought a new position in PPG Industries in the third quarter worth about $1,012,000. Finally, SpiderRock Advisors LLC raised its stake in shares of PPG Industries by 9.8% in the third quarter. SpiderRock Advisors LLC now owns 7,259 shares of the specialty chemicals company's stock worth $962,000 after purchasing an additional 649 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

Insider Activity

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.55% of the company's stock.

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PPG Industries Stock Performance

Shares of PPG stock traded down $1.41 during trading hours on Wednesday, reaching $112.02. 791,861 shares of the company's stock were exchanged, compared to its average volume of 1,624,062. The company's 50 day moving average is $116.62 and its two-hundred day moving average is $122.58. The company has a market cap of $25.42 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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 1 year low of $109.15 and a 1 year high of $145.61.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.43%. PPG Industries's dividend payout ratio is presently 57.51%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Seaport Res Ptn cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. KeyCorp downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Wells Fargo & Company dropped their price target on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Citigroup decreased their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of "Hold" and an average target price of $138.15.

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.