10,709 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by CGN Advisors LLC

CGN Advisors LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 10,709 shares of the specialty chemicals company’s stock, valued at approximately $1,279,000.

Other hedge funds have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries during the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. raised its stake in PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new stake in PPG Industries during the third quarter valued at about $34,000. Hara Capital LLC bought a new position in PPG Industries during the third quarter worth about $40,000. Finally, Ashton Thomas Securities LLC bought a new position in PPG Industries during the third quarter worth about $46,000. Institutional investors own 81.86% of the company’s stock.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PPG. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Citigroup lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

PPG Industries Trading Up 0.5 %

Shares of PPG opened at $120.14 on Friday. PPG Industries, Inc. has a 1-year low of $113.00 and a 1-year high of $145.86. The company has a market capitalization of $27.87 billion, a P/E ratio of 19.04, a P/E/G ratio of 1.77 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm’s 50 day simple moving average is $121.26 and its 200 day simple moving average is $124.80.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the business posted $2.07 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that PPG Industries, Inc. will post 8.15 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

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.