Transcend Capital Advisors LLC Boosts Stock Holdings in PPG Industries, Inc. $PPG

Transcend Capital Advisors LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,901 shares of the specialty chemicals company’s stock after purchasing an additional 611 shares during the period. Transcend Capital Advisors LLC’s holdings in PPG Industries were worth $2,491,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital Advisors Ltd. LLC raised its stake in shares of PPG Industries by 127.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 125 shares in the last quarter. Cheviot Value Management LLC purchased a new position in PPG Industries in the first quarter worth $26,000. Headlands Technologies LLC purchased a new position in PPG Industries in the first quarter worth $30,000. Gladwyn Financial Advisors Inc. purchased a new position in PPG Industries in the second quarter worth $31,000. Finally, Financial Connections Group Inc. raised its position in PPG Industries by 74.6% in the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Mizuho dropped their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Citigroup dropped their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 6th. UBS Group dropped their price objective on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, Bank of America dropped their price target on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.00.

PPG Industries Trading Up 2.1%

PPG Industries stock opened at $105.66 on Tuesday. The stock has a market cap of $23.85 billion, a PE ratio of 23.96, a P/E/G ratio of 2.18 and a beta of 1.16. The stock has a 50-day moving average price of $106.66 and a 200 day moving average price of $109.04. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $130.05. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting analysts’ consensus estimates of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. Equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. PPG Industries’s payout ratio is 64.40%.

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.