Synergy Asset Management LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,373 shares of the specialty chemicals company's stock, valued at approximately $274,000.
Other large investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. raised its position in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of PPG Industries during the third quarter worth about $34,000. Albion Financial Group UT bought a new position in shares of PPG Industries during the fourth quarter worth about $38,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries during the third quarter worth about $40,000. 81.86% of the stock is currently owned by institutional investors.
PPG Industries Stock Performance
PPG Industries stock traded down $7.00 during mid-day trading on Friday, reaching $115.75. 1,171,533 shares of the company's stock were exchanged, compared to its average volume of 2,023,353. The firm has a market capitalization of $26.85 billion, a PE ratio of 18.34, a P/E/G ratio of 1.94 and a beta of 1.24. The business's fifty day simple moving average is $121.25 and its 200 day simple moving average is $124.56. 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 one year low of $113.00 and a one year high of $145.60.
PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. On average, sell-side analysts expect that PPG Industries, Inc. will post 8.15 earnings per share for the current year.
PPG Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.35%. PPG Industries's payout ratio is presently 43.11%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on PPG shares. StockNews.com downgraded PPG Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 20th. KeyCorp downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Citigroup lowered their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a report on Friday, October 18th. Finally, Mizuho lowered their target price on PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, PPG Industries has an average rating of "Moderate Buy" and a consensus target price of $149.23.
Read Our Latest Stock Analysis on PPG Industries
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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