PFW Advisors LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,263 shares of the specialty chemicals company's stock, valued at approximately $868,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Equity Investment Corp boosted its position in shares of PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company's stock valued at $86,006,000 after acquiring an additional 42,380 shares during the last quarter. Ritholtz Wealth Management purchased a new position in PPG Industries during the third quarter worth about $604,000. Charles Schwab Investment Management Inc. boosted its holdings in PPG Industries by 0.6% in the 3rd 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 purchasing an additional 15,161 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of PPG Industries by 10.0% in the 3rd quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company's stock valued at $4,824,000 after buying an additional 3,300 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $617,000. Institutional investors and hedge funds own 81.86% of the company's stock.
Analyst Upgrades and Downgrades
PPG has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated an "outperform" rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Citigroup decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a research report on Friday, October 18th. Finally, Royal Bank of Canada decreased their price objective on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 22nd. Seven research 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $149.29.
Check Out Our Latest Report on PPG Industries
Insider Buying and Selling at PPG Industries
In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction 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.
PPG Industries Stock Up 1.3 %
PPG traded up $1.48 on Monday, reaching $114.66. The company's stock had a trading volume of 2,115,830 shares, compared to its average volume of 2,090,230. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. 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 50 day moving average of $122.03 and a two-hundred day moving average of $125.05. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.90 and a beta of 1.24.
PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion during 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 revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share. As a group, analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.
PPG Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries's payout ratio is 43.11%.
About PPG Industries
(
Free Report)
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.
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