D.A. Davidson & CO. Has $9.52 Million Position in PPG Industries, Inc. (NYSE:PPG)

D.A. Davidson & CO. increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,868 shares of the specialty chemicals company’s stock after purchasing an additional 1,446 shares during the quarter. D.A. Davidson & CO.’s holdings in PPG Industries were worth $9,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPG. Financial Connections Group Inc. acquired a new stake in PPG Industries during the 2nd quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the 3rd quarter valued at $34,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries during the second quarter worth $37,000. Hara Capital LLC bought a new position in PPG Industries during the third quarter worth $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in PPG Industries in the third quarter valued at $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PPG. Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. JPMorgan Chase & Co. dropped 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 report on Friday, October 18th. Finally, Royal Bank of Canada cut their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Performance

Shares of PPG opened at $123.37 on Wednesday. The firm has a market capitalization of $28.62 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.92 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The stock has a 50 day moving average price of $126.88 and a two-hundred day moving average price of $127.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company posted $2.07 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

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.