3,572 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by Ellevest Inc.

Ellevest Inc. bought a new stake in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 3,572 shares of the specialty chemicals company’s stock, valued at approximately $427,000.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of PPG Industries by 21.0% in the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock valued at $151,276,000 after acquiring an additional 198,353 shares in the last quarter. Nordea Investment Management AB raised its position in shares of PPG Industries by 3.7% in the fourth quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company’s stock valued at $2,328,000 after purchasing an additional 687 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of PPG Industries by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 62,296 shares of the specialty chemicals company’s stock worth $8,252,000 after buying an additional 1,037 shares during the last quarter. Czech National Bank boosted its holdings in shares of PPG Industries by 5.8% during the 4th quarter. Czech National Bank now owns 50,303 shares of the specialty chemicals company’s stock worth $6,009,000 after buying an additional 2,778 shares during the period. Finally, Wedmont Private Capital grew its stake in PPG Industries by 10.1% in the 4th quarter. Wedmont Private Capital now owns 2,488 shares of the specialty chemicals company’s stock valued at $282,000 after buying an additional 229 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PPG. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. The Goldman Sachs Group cut their price objective 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. Fermium Researc raised PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $128.83.

PPG Industries Price Performance

NYSE:PPG opened at $109.32 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a 50-day moving average of $106.58 and a 200-day moving average of $115.67. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a market capitalization of $24.82 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.19 and a beta of 1.20.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the company earned $1.87 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.49%. PPG Industries’s dividend payout ratio is currently 58.24%.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated 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 $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

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.