PUREfi Wealth LLC Takes $279,000 Position in PPG Industries, Inc. (NYSE:PPG)

PUREfi Wealth 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 disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,336 shares of the specialty chemicals company's stock, valued at approximately $279,000.

Several other hedge funds have also made changes to their positions in PPG. Legend Financial Advisors Inc. acquired a new position in PPG Industries in the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. raised its stake in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries in the third quarter valued at $34,000. Hara Capital LLC bought a new position in PPG Industries in the third quarter worth $40,000. Finally, Albion Financial Group UT acquired a new stake in PPG Industries during the fourth quarter worth $38,000. Institutional investors own 81.86% of the company's stock.

PPG Industries Trading Down 2.0 %

PPG stock traded down $2.44 during trading on Wednesday, hitting $116.82. The company had a trading volume of 1,681,051 shares, compared to its average volume of 2,106,998. The firm has a 50-day moving average price of $118.72 and a 200-day moving average price of $123.33. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries's dividend payout ratio is 57.51%.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PPG shares. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company lowered their price objective on PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. KeyCorp lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Finally, Citigroup dropped their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of "Moderate Buy" and an average price target of $138.15.

PPG Industries 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.