Proficio Capital Partners LLC Buys New Shares in PPG Industries, Inc. (NYSE:PPG)

Proficio Capital Partners LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,579 shares of the specialty chemicals company's stock, valued at approximately $6,997,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PPG. Assetmark Inc. raised its position in PPG Industries by 5.9% in the 4th quarter. Assetmark Inc. now owns 11,664 shares of the specialty chemicals company's stock worth $1,393,000 after purchasing an additional 650 shares during the period. Commerzbank Aktiengesellschaft FI bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $505,000. Charles Schwab Investment Management Inc. raised its holdings in shares of PPG Industries by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company's stock worth $316,349,000 after buying an additional 76,626 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of PPG Industries by 25.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 22,077 shares of the specialty chemicals company's stock worth $2,637,000 after acquiring an additional 4,522 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in PPG Industries by 1.0% during the 4th quarter. Plato Investment Management Ltd now owns 24,191 shares of the specialty chemicals company's stock valued at $2,900,000 after acquiring an additional 235 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

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Analysts Set New Price Targets

PPG has been the subject of several research analyst reports. Wells Fargo & Company decreased their target price on PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. The Goldman Sachs Group dropped their target price on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. UBS Group decreased their price target on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, Barclays reissued an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $138.15.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value 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 trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

PPG Industries Stock Down 1.6 %

Shares of NYSE PPG traded down $1.81 during mid-day trading on Thursday, reaching $111.29. 713,353 shares of the company were exchanged, compared to its average volume of 1,607,857. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. The firm has a 50-day moving average of $116.23 and a 200 day moving average of $121.98. The stock has a market cap of $25.26 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.19 and a beta of 1.22. 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 (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.44%. PPG Industries's dividend payout ratio is presently 57.51%.

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.