Moran Wealth Management LLC Takes $5.04 Million Position in PPG Industries, Inc. (NYSE:PPG)

Moran Wealth Management LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 42,182 shares of the specialty chemicals company’s stock, valued at approximately $5,039,000.

Other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of 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 purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $34,000. Albion Financial Group UT bought a new stake in shares of PPG Industries in the 4th quarter valued at approximately $38,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $46,000. 81.86% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

PPG has been the subject of several analyst reports. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. UBS Group decreased their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Trading Down 0.7 %

PPG opened at $114.71 on Tuesday. The stock’s fifty day moving average is $116.74 and its two-hundred day moving average is $122.68. The company has a market capitalization of $26.03 billion, a P/E ratio of 24.25, a PEG ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61. 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 released 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%. Analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.37%. PPG Industries’s dividend payout ratio is presently 57.51%.

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.