Kestra Private Wealth Services LLC Grows Position in PPG Industries, Inc. (NYSE:PPG)

Kestra Private Wealth Services LLC grew its stake in PPG Industries, Inc. (NYSE:PPG) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,432 shares of the specialty chemicals company’s stock after acquiring an additional 1,107 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in PPG Industries were worth $1,604,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PPG. PFW Advisors LLC acquired a new position in PPG Industries in the 4th quarter valued at $868,000. Equity Investment Corp increased its stake in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after purchasing an additional 42,380 shares during the last quarter. Ritholtz Wealth Management purchased a new position in PPG Industries during the third quarter worth about $604,000. JGP Wealth Management LLC acquired a new stake in shares of PPG Industries in the fourth quarter worth approximately $4,050,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $114.77 on Thursday. The firm has a 50 day moving average of $119.57 and a 200-day moving average of $123.64. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $26.63 billion, a PE ratio of 24.26, a PEG ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last announced 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%. On average, equities research analysts predict that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PPG shares. Barclays dropped their price target on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.15.

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.