Legend Financial Advisors Inc. Takes Position in PPG Industries, Inc. (NYSE:PPG)

Legend Financial Advisors Inc. purchased a new position in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 224 shares of the specialty chemicals company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its holdings in PPG Industries by 3.7% in the 4th quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company’s stock worth $2,328,000 after acquiring an additional 687 shares in the last quarter. GAMMA Investing LLC increased its holdings in PPG Industries by 8.9% in the 4th quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company’s stock worth $731,000 after acquiring an additional 498 shares in the last quarter. Franklin Resources Inc. increased its holdings in PPG Industries by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after acquiring an additional 170,339 shares in the last quarter. Tidal Investments LLC increased its holdings in PPG Industries by 1.2% in the 3rd quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company’s stock worth $1,763,000 after acquiring an additional 162 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in PPG Industries by 69.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company’s stock worth $7,153,000 after acquiring an additional 22,198 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PPG shares. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada dropped their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho dropped their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.29.

Insider Activity at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is owned by corporate insiders.

PPG Industries Trading Up 0.7 %

NYSE PPG traded up $0.79 during trading hours on Tuesday, reaching $115.86. The company had a trading volume of 1,988,123 shares, compared to its average volume of 2,426,705. The stock has a market capitalization of $26.88 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. PPG Industries, Inc. has a 1-year low of $113.49 and a 1-year high of $147.76. 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 50-day moving average of $122.84 and a 200 day moving average of $125.38.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS 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 business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.07 EPS. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a $0.68 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.35%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

PPG Industries 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.