Widmann Financial Services Inc. Boosts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Widmann Financial Services Inc. lifted its position in PPG Industries, Inc. (NYSE:PPG) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,621 shares of the specialty chemicals company’s stock after purchasing an additional 282 shares during the quarter. Widmann Financial Services Inc.’s holdings in PPG Industries were worth $1,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PPG. Charles Schwab Investment Management Inc. grew its position in PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. Dimensional Fund Advisors LP increased its holdings in PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PPG Industries by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock worth $248,650,000 after acquiring an additional 36,047 shares during the period. ProShare Advisors LLC boosted its stake in shares of PPG Industries by 12.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock worth $176,751,000 after acquiring an additional 152,719 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of PPG Industries by 10.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,061,312 shares of the specialty chemicals company’s stock valued at $140,276,000 after acquiring an additional 98,941 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $124.43 on Friday. The firm has a 50-day simple moving average of $126.65 and a two-hundred day simple moving average of $127.12. The stock has a market cap of $28.87 billion, a PE ratio of 19.72, a P/E/G ratio of 1.89 and a beta of 1.26. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year 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.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (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 firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm earned $2.07 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of several research analyst reports. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.