KG&L Capital Management LLC Buys New Position in PPG Industries, Inc. (NYSE:PPG)

KG&L Capital Management LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,511 shares of the specialty chemicals company’s stock, valued at approximately $200,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Norden Group LLC purchased a new position in shares of PPG Industries in the 1st quarter worth about $252,000. Private Advisor Group LLC grew its position in PPG Industries by 4.0% during the first quarter. Private Advisor Group LLC now owns 10,463 shares of the specialty chemicals company’s stock valued at $1,516,000 after acquiring an additional 407 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in PPG Industries during the first quarter valued at approximately $132,000. Nordea Investment Management AB raised its stake in shares of PPG Industries by 4.0% during the first quarter. Nordea Investment Management AB now owns 18,166 shares of the specialty chemicals company’s stock worth $2,632,000 after acquiring an additional 707 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of PPG Industries by 10.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 25,604 shares of the specialty chemicals company’s stock worth $3,710,000 after acquiring an additional 2,503 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG stock opened at $124.86 on Tuesday. The business’s fifty day moving average is $127.94 and its 200 day moving average is $128.16. The stock has a market cap of $28.97 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.90 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the firm earned $2.07 EPS. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts expect that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PPG shares. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Bank of America cut their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Barclays lowered their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

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.