Pavion Blue Capital LLC Purchases New Holdings in PPG Industries, Inc. $PPG

Pavion Blue Capital LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,400 shares of the specialty chemicals company’s stock, valued at approximately $772,000.

Several other large investors also recently modified their holdings of the stock. Essential Partners LLC increased its stake in shares of PPG Industries by 59.3% in the 1st quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 112 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of PPG Industries by 6.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company’s stock valued at $244,000 after acquiring an additional 114 shares during the period. Ancora Advisors LLC lifted its position in shares of PPG Industries by 36.5% during the 2nd quarter. Ancora Advisors LLC now owns 430 shares of the specialty chemicals company’s stock valued at $52,000 after acquiring an additional 115 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in shares of PPG Industries by 2.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 5,493 shares of the specialty chemicals company’s stock valued at $573,000 after acquiring an additional 119 shares during the period. Finally, Glenview Trust Co boosted its stake in PPG Industries by 0.8% during the third quarter. Glenview Trust Co now owns 16,047 shares of the specialty chemicals company’s stock worth $1,674,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In related news, VP Chancey Hagerty sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total transaction of $317,850.00. Following the transaction, the vice president directly owned 9,761 shares of the company’s stock, valued at $1,241,013.54. This trade represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by insiders.

PPG Industries Trading Up 0.3%

Shares of PPG Industries stock opened at $124.80 on Thursday. The stock has a fifty day simple moving average of $110.56 and a 200 day simple moving average of $113.02. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The company has a market capitalization of $27.57 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.13. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.28 billion. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.13 EPS. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.98 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be issued a $0.74 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.4%. PPG Industries’s dividend payout ratio is currently 42.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup upped their price objective on shares of PPG Industries from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. The Goldman Sachs Group reissued a “buy” rating and set a $128.00 price objective on shares of PPG Industries in a research report on Friday, October 9th. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Finally, Royal Bank Of Canada raised their target price on PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $128.29.

PPG Industries Company Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.