Captrust Financial Advisors Increases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Captrust Financial Advisors boosted its position in PPG Industries, Inc. (NYSE:PPG) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,885 shares of the specialty chemicals company’s stock after acquiring an additional 2,072 shares during the period. Captrust Financial Advisors’ holdings in PPG Industries were worth $2,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Prudent Man Investment Management Inc. purchased a new position in PPG Industries during the 4th quarter valued at about $36,000. Albion Financial Group UT bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $38,000. Crews Bank & Trust purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $42,000. Sugar Maple Asset Management LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $44,000. Finally, Millstone Evans Group LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $46,000. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company raised their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.83.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

PPG Industries Price Performance

PPG stock opened at $109.32 on Monday. 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 firm has a 50 day moving average price of $106.58 and a 200-day moving average price of $115.51. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The firm 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 data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the business earned $1.87 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

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

PPG Industries 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.