Monte Financial Group LLC Grows Stock Position in PPG Industries, Inc. (NYSE:PPG)

Monte Financial Group LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,688 shares of the specialty chemicals company’s stock after buying an additional 432 shares during the period. Monte Financial Group LLC’s holdings in PPG Industries were worth $3,307,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Royal Bank of Canada lowered their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. JPMorgan Chase & Co. dropped their price target on shares of 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, KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.23.

PPG Industries Stock Performance

NYSE PPG opened at $122.75 on Friday. PPG Industries, Inc. has a fifty-two week low of $113.00 and a fifty-two week high of $145.60. The firm has a market capitalization of $28.48 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The stock’s fifty day moving average is $121.17 and its two-hundred day moving average is $124.70. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is currently 43.11%.

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.