Private Advisor Group LLC Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

Private Advisor Group LLC increased its stake in PPG Industries, Inc. (NYSE:PPG) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,123 shares of the specialty chemicals company’s stock after acquiring an additional 781 shares during the quarter. Private Advisor Group LLC’s holdings in PPG Industries were worth $1,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stanley Laman Group Ltd. purchased a new stake in PPG Industries in the 3rd quarter worth $206,000. Copeland Capital Management LLC purchased a new stake in PPG Industries in the 3rd quarter worth $124,000. Allspring Global Investments Holdings LLC increased its holdings in PPG Industries by 15.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock worth $2,030,000 after acquiring an additional 2,047 shares in the last quarter. Vest Financial LLC increased its holdings in PPG Industries by 16.1% in the 3rd quarter. Vest Financial LLC now owns 392,155 shares of the specialty chemicals company’s stock worth $51,945,000 after acquiring an additional 54,429 shares in the last quarter. Finally, First Bancorp Inc ME purchased a new stake in PPG Industries in the 3rd quarter worth $256,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 0.7 %

NYSE PPG opened at $125.65 on Thursday. The firm’s 50-day moving average is $128.04 and its two-hundred day moving average is $128.42. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market capitalization of $29.15 billion, a P/E ratio of 19.91, a PEG ratio of 1.93 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company earned $2.07 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 8.19 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.16%. PPG Industries’s payout ratio is currently 43.11%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of research reports. Bank of America dropped their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. KeyCorp dropped their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. UBS Group upped their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

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.