Certuity LLC Boosts Holdings in PPG Industries, Inc. (NYSE:PPG)

Certuity LLC raised its stake in PPG Industries, Inc. (NYSE:PPG) by 17.0% during the fourth quarter, Holdings Channel reports. The fund owned 2,905 shares of the specialty chemicals company’s stock after buying an additional 422 shares during the period. Certuity LLC’s holdings in PPG Industries were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. increased its position in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the third quarter valued at $34,000. Albion Financial Group UT purchased a new position in shares of PPG Industries during the 4th quarter valued at $38,000. Finally, Hara Capital LLC purchased a new stake in PPG Industries in the 3rd quarter worth about $40,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

PPG Industries stock opened at $114.77 on Thursday. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.97 and a beta of 1.23. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $119.57 and a 200 day simple moving average of $123.64. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, research analysts forecast that PPG Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group dropped their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Citigroup reduced 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. Barclays lowered their target price on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada cut their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.15.

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.