4,559 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,559 shares of the specialty chemicals company's stock, valued at approximately $604,000.

Other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of PPG Industries during the fourth quarter valued at about $567,000. Richardson Financial Services Inc. bought a new stake in PPG Industries in the fourth quarter valued at approximately $29,000. HighPoint Advisor Group LLC purchased a new stake in shares of PPG Industries during the fourth quarter valued at approximately $1,163,000. Nomura Holdings Inc. grew its holdings in shares of PPG Industries by 30.3% in the fourth quarter. Nomura Holdings Inc. now owns 11,045 shares of the specialty chemicals company's stock worth $1,652,000 after purchasing an additional 2,566 shares during the last quarter. Finally, Rise Advisors LLC increased its stake in shares of PPG Industries by 26.2% in the first quarter. Rise Advisors LLC now owns 646 shares of the specialty chemicals company's stock worth $94,000 after buying an additional 134 shares during the period. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 0.4 %

PPG stock traded up $0.49 on Wednesday, reaching $130.36. 2,004,723 shares of the company traded hands, compared to its average volume of 1,596,211. The firm has a fifty day simple moving average of $126.49 and a 200-day simple moving average of $129.25. The company has a market cap of $30.57 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.02. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company's revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $2.25 earnings per share. Research analysts anticipate that PPG Industries, Inc. will post 8.24 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, August 12th. This is an increase from PPG Industries's previous quarterly dividend of $0.65. PPG Industries's dividend payout ratio is currently 45.95%.

Analysts Set New Price Targets

PPG has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of PPG Industries from $140.00 to $139.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 23rd. Citigroup reduced their price target on PPG Industries from $145.00 to $144.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. Barclays dropped their price objective on PPG Industries from $148.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, July 22nd. BMO Capital Markets cut their price objective on PPG Industries from $165.00 to $161.00 and set an "outperform" rating on the stock in a research report on Monday, July 22nd. Finally, KeyCorp decreased their target price on PPG Industries from $162.00 to $153.00 and set an "overweight" rating for the company in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, PPG Industries has an average rating of "Moderate Buy" and a consensus target price of $151.08.

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.