Jacobi Capital Management LLC Has $1.14 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Jacobi Capital Management LLC raised its position in PPG Industries, Inc. (NYSE:PPG) by 2.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 7,877 shares of the specialty chemicals company’s stock after purchasing an additional 191 shares during the period. Jacobi Capital Management LLC’s holdings in PPG Industries were worth $1,141,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. increased its stake in shares of PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 153 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in shares of PPG Industries in the 4th quarter valued at $27,000. CVA Family Office LLC bought a new stake in shares of PPG Industries in the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of PPG Industries in the 4th quarter valued at $29,000. Finally, LifeSteps Financial Inc. bought a new stake in shares of PPG Industries in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish acquired 2,061 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were acquired at an average cost of $133.24 per share, with a total value of $274,607.64. Following the completion of the acquisition, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,774,388.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company upgraded shares of PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $163.00 in a research note on Thursday, April 11th. UBS Group boosted their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday. StockNews.com upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Finally, BMO Capital Markets decreased their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.54.

PPG Industries Stock Up 0.3 %

Shares of NYSE PPG traded up $0.33 during trading on Monday, hitting $128.37. The stock had a trading volume of 1,608,276 shares, compared to its average volume of 1,666,760. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $151.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The company has a market capitalization of $30.10 billion, a PE ratio of 21.68, a PEG ratio of 1.62 and a beta of 1.26. The firm has a fifty day moving average of $129.62 and a two-hundred day moving average of $136.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.50%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 EPS. As a group, equities research analysts forecast that PPG Industries, Inc. will post 8.23 EPS for the current fiscal year.

PPG Industries announced that its Board of Directors has initiated a share repurchase program on Thursday, April 18th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be issued a $0.68 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, August 12th. PPG Industries’s payout ratio is 43.92%.

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.