Jones Financial Companies Lllp Boosts Position in PPG Industries, Inc. (NYSE:PPG)

Jones Financial Companies Lllp grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 25.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,961 shares of the specialty chemicals company’s stock after buying an additional 402 shares during the period. Jones Financial Companies Lllp’s holdings in PPG Industries were worth $234,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries during the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. lifted its holdings 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 valued at $32,000 after purchasing an additional 200 shares in the last quarter. Albion Financial Group UT bought a new position in shares of PPG Industries during the fourth quarter valued at $38,000. Ashton Thomas Securities LLC purchased a new stake in PPG Industries during the third quarter valued at $46,000. Finally, Crews Bank & Trust purchased a new stake in PPG Industries during the fourth quarter valued at $42,000. 81.86% of the stock is currently owned by institutional investors.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Royal Bank of Canada reduced their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. UBS Group reduced their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Stock Performance

NYSE PPG opened at $111.44 on Friday. The firm has a market cap of $25.29 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth 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. The business has a 50-day moving average price of $116.37 and a 200-day moving average price of $122.43. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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, equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

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

About PPG Industries

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.