Independent Advisor Alliance Grows Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Independent Advisor Alliance grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,702 shares of the specialty chemicals company’s stock after acquiring an additional 417 shares during the period. Independent Advisor Alliance’s holdings in PPG Industries were worth $1,285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PPG. Financial Connections Group Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at $25,000. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries in the third quarter worth about $34,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries in the second quarter valued at about $37,000. Hara Capital LLC acquired a new position in PPG Industries during the 3rd quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in PPG Industries in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

PPG stock opened at $123.37 on Wednesday. The stock’s 50 day simple moving average is $126.88 and its 200 day simple moving average is $127.25. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The firm has a market cap of $28.62 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.88 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company posted $2.07 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities research analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. PPG Industries’s payout ratio is currently 43.11%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PPG shares. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada cut their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

PPG Industries 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.