RD Lewis Holdings Inc. Buys New Shares in PPG Industries, Inc. (NYSE:PPG)

RD Lewis Holdings Inc. bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,899 shares of the specialty chemicals company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its position in PPG Industries by 465.1% during 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. Albion Financial Group UT acquired a new position in PPG Industries during the fourth quarter worth approximately $38,000. Crews Bank & Trust acquired a new position in PPG Industries during the fourth quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in PPG Industries during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, Citigroup decreased their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $138.15.

PPG Industries Trading Up 0.3 %

Shares of PPG stock opened at $113.85 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market cap of $25.84 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The stock has a 50 day simple moving average of $116.33 and a 200 day simple moving average of $122.16. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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 predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.