Albion Financial Group UT Acquires New Shares in PPG Industries, Inc. (NYSE:PPG)

Albion Financial Group UT bought a new position in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 318 shares of the specialty chemicals company’s stock, valued at approximately $38,000.

Several other hedge funds have also recently modified their holdings of the business. Nisa Investment Advisors LLC increased its holdings in PPG Industries by 2.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 46,351 shares of the specialty chemicals company’s stock worth $5,537,000 after buying an additional 979 shares in the last quarter. Aspire Private Capital LLC purchased a new stake in PPG Industries during the fourth quarter valued at approximately $240,000. Charles Schwab Trust Co increased its holdings in PPG Industries by 60.0% during the fourth quarter. Charles Schwab Trust Co now owns 2,628 shares of the specialty chemicals company’s stock valued at $314,000 after buying an additional 986 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in PPG Industries in the fourth quarter worth approximately $44,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s 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 sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Trading Down 0.3 %

Shares of PPG Industries stock opened at $122.94 on Thursday. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.60. 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 $121.18 and a 200-day moving average price of $124.75. The firm has a market cap of $28.52 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.94 and a beta of 1.24.

PPG Industries Announces Dividend

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 issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 43.11%.

Analyst Ratings Changes

A number of equities analysts recently commented on PPG shares. Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Citigroup lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.23.

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.