PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,702 shares of the specialty chemicals company’s stock after acquiring an additional 417 shares during the quarter. Independent Advisor Alliance’s holdings in PPG Industries were worth $1,285,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PPG. Insight Folios Inc lifted its stake in shares of PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of PPG Industries by 0.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after acquiring an additional 82 shares during the period. Klingman & Associates LLC boosted its stake in shares of PPG Industries by 2.6% during the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares in the last quarter. Fragasso Financial Advisors Inc grew its holdings in shares of PPG Industries by 0.6% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after acquiring an additional 84 shares during the period. Finally, SeaCrest Wealth Management LLC grew its holdings in shares of PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock worth $435,000 after acquiring an additional 86 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. decreased their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. StockNews.com cut shares of 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 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Mizuho reduced their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Stock Performance

PPG Industries stock opened at $123.37 on Wednesday. The stock has a fifty day moving average price of $126.88 and a 200 day moving average price of $127.25. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The firm has a market capitalization of $28.62 billion, a P/E ratio of 19.55, a PEG ratio of 1.88 and a beta of 1.26. 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 Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the company earned $2.07 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.20%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insider Activity

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 value of $249,713.00. Following the transaction, the vice president now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

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.