PPG Industries, Inc. (NYSE:PPG) Shares Acquired by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 28.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,016 shares of the specialty chemicals company’s stock after acquiring an additional 449 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in PPG Industries were worth $241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFW Advisors LLC acquired a new position in shares of PPG Industries during the fourth quarter worth $868,000. Equity Investment Corp grew its stake in shares of PPG Industries by 7.0% during the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after purchasing an additional 42,380 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of PPG Industries during the third quarter worth $604,000. JGP Wealth Management LLC acquired a new position in shares of PPG Industries during the fourth quarter worth $4,050,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 0.6% during the third 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 in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Up 0.3 %

NYSE PPG opened at $122.79 on Friday. The stock has a market capitalization of $28.49 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.94 and a beta of 1.24. PPG Industries, Inc. has a 52-week low of $113.00 and a 52-week high of $145.60. The firm has a 50-day moving average price of $121.25 and a 200 day moving average price of $124.56. 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 (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. Equities research analysts expect that PPG Industries, Inc. will post 8.15 EPS for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.22%. PPG Industries’s payout ratio is currently 43.11%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

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.