Synergy Asset Management LLC Makes New $274,000 Investment in PPG Industries, Inc. (NYSE:PPG)

Synergy Asset Management LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,373 shares of the specialty chemicals company’s stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Legend Financial Advisors Inc. purchased a new position in PPG Industries in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. grew its position in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the 3rd quarter worth $34,000. Albion Financial Group UT purchased a new stake in PPG Industries in the fourth quarter valued at $38,000. Finally, Hara Capital LLC acquired a new position in PPG Industries in the third quarter valued at $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PPG shares. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Citigroup decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $149.23.

PPG Industries Price Performance

Shares of PPG opened at $122.79 on Friday. 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’s 50 day moving average is $121.25 and its two-hundred day moving average is $124.58. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.60. The firm has a market capitalization of $28.49 billion, a PE ratio of 19.46, a P/E/G ratio of 1.94 and a beta of 1.24.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. Research analysts anticipate that PPG Industries, Inc. will post 8.15 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio is presently 43.11%.

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.