Nicholson Wealth Management Group LLC Buys New Position in PPG Industries, Inc. (NYSE:PPG)

Nicholson Wealth Management Group LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,781 shares of the specialty chemicals company’s stock, valued at approximately $633,000.

Several other institutional investors have also added to or reduced their stakes in PPG. Park Avenue Securities LLC boosted its stake in PPG Industries by 7.8% in the 1st quarter. Park Avenue Securities LLC now owns 5,611 shares of the specialty chemicals company’s stock worth $813,000 after purchasing an additional 406 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of PPG Industries by 188.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 10,074 shares of the specialty chemicals company’s stock valued at $1,460,000 after buying an additional 6,584 shares during the last quarter. Norris Perne & French LLP MI purchased a new stake in shares of PPG Industries during the first quarter valued at $216,000. Independence Bank of Kentucky increased its position in shares of PPG Industries by 534.5% in the 1st quarter. Independence Bank of Kentucky now owns 2,760 shares of the specialty chemicals company’s stock valued at $400,000 after acquiring an additional 2,325 shares during the period. Finally, Grimes & Company Inc. raised its stake in PPG Industries by 13.5% in the 1st quarter. Grimes & Company Inc. now owns 1,551 shares of the specialty chemicals company’s stock worth $225,000 after acquiring an additional 184 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $127.23 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company’s fifty day moving average price is $127.69 and its 200 day moving average price is $128.83. The stock has a market capitalization of $29.52 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.94 and a beta of 1.26. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16.

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

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.14%. PPG Industries’s payout ratio is currently 43.11%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PPG shares. Royal Bank of Canada cut their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday. Mizuho cut their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday. Bank of America dropped their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.