Stoneridge Investment Partners LLC Takes $949,000 Position in PPG Industries, Inc. (NYSE:PPG)

Stoneridge Investment Partners LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,941 shares of the specialty chemicals company’s stock, valued at approximately $949,000.

Other institutional investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries during the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of PPG Industries by 465.1% during 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 in the last quarter. Capital Performance Advisors LLP purchased a new stake in PPG Industries in the 3rd quarter worth $34,000. Hara Capital LLC purchased a new stake in PPG Industries in the 3rd quarter worth $40,000. Finally, Albion Financial Group UT purchased a new stake in PPG Industries in the 4th quarter worth $38,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

PPG stock opened at $114.87 on Friday. The company has a market capitalization of $26.65 billion, a P/E ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. The business has a 50 day simple moving average of $120.03 and a 200-day simple moving average of $123.84. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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, equities analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Analyst Ratings Changes

PPG has been the subject of several recent analyst reports. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.46.

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.