Atlas Legacy Advisors LLC Purchases New Position in PPG Industries, Inc. (NYSE:PPG)

Atlas Legacy Advisors LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,029 shares of the specialty chemicals company’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in PPG Industries by 1.1% in the 4th quarter. New York State Common Retirement Fund now owns 180,040 shares of the specialty chemicals company’s stock worth $21,506,000 after purchasing an additional 1,969 shares in the last quarter. Mcdonald Partners LLC lifted its stake in PPG Industries by 26.1% in the 4th quarter. Mcdonald Partners LLC now owns 4,015 shares of the specialty chemicals company’s stock worth $480,000 after purchasing an additional 832 shares in the last quarter. BKM Wealth Management LLC lifted its stake in PPG Industries by 4.6% in the 4th quarter. BKM Wealth Management LLC now owns 4,732 shares of the specialty chemicals company’s stock worth $565,000 after purchasing an additional 210 shares in the last quarter. GAM Holding AG purchased a new stake in PPG Industries in the 4th quarter worth approximately $1,567,000. Finally, Venturi Wealth Management LLC lifted its stake in PPG Industries by 19.5% in the 4th quarter. Venturi Wealth Management LLC now owns 3,047 shares of the specialty chemicals company’s stock worth $364,000 after purchasing an additional 498 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PPG has been the topic of several recent analyst reports. Mizuho lowered their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Barclays decreased 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 report on Monday, February 3rd. Finally, UBS Group decreased their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.15.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

PPG Industries Price Performance

PPG stock opened at $116.82 on Thursday. 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, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The firm’s fifty day moving average is $118.60 and its 200 day moving average is $123.29. The firm has a market cap of $27.10 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its earnings results 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%. Research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

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.