Dana Investment Advisors Inc. Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Dana Investment Advisors Inc. purchased a new stake in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,407 shares of the specialty chemicals company’s stock, valued at approximately $1,840,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PPG. Farther Finance Advisors LLC increased its stake in shares of PPG Industries by 14.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,445 shares of the specialty chemicals company’s stock valued at $324,000 after acquiring an additional 306 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of PPG Industries by 15.5% in the 3rd quarter. Van ECK Associates Corp now owns 39,801 shares of the specialty chemicals company’s stock valued at $5,026,000 after acquiring an additional 5,329 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of PPG Industries by 79.3% in the 3rd quarter. QRG Capital Management Inc. now owns 11,207 shares of the specialty chemicals company’s stock valued at $1,484,000 after acquiring an additional 4,956 shares during the last quarter. Foster & Motley Inc. bought a new stake in shares of PPG Industries in the 3rd quarter valued at about $210,000. Finally, Hara Capital LLC bought a new stake in shares of PPG Industries in the 3rd quarter valued at about $40,000. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PPG. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Royal Bank of Canada decreased their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. The Goldman Sachs Group decreased their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Mizuho decreased their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group decreased their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Trading Up 0.1 %

NYSE:PPG opened at $115.47 on Friday. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month 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. The business has a 50 day moving average price of $116.82 and a two-hundred day moving average price of $122.77. The company has a market cap of $26.21 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

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 net margin of 6.41% and a return on equity of 23.78%. As a group, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed 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. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by insiders.

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.