Kingsview Wealth Management LLC Purchases 103 Shares of PPG Industries, Inc. (NYSE:PPG)

Kingsview Wealth Management LLC raised its position in PPG Industries, Inc. (NYSE:PPG) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,288 shares of the specialty chemicals company’s stock after buying an additional 103 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PPG Industries were worth $990,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. PFW Advisors LLC bought a new position in PPG Industries in the 4th quarter valued at $868,000. Equity Investment Corp boosted its position in shares of PPG Industries by 7.0% in the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after purchasing an additional 42,380 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of PPG Industries in the 3rd quarter worth $604,000. JGP Wealth Management LLC bought a new position in shares of PPG Industries in the 4th quarter worth $4,050,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

PPG opened at $114.91 on Wednesday. The company has a market capitalization of $26.66 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 1.97 and a beta of 1.23. The business’s 50-day moving average price is $119.80 and its two-hundred day moving average price is $123.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Equities analysts expect that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed 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. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PPG. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. UBS Group reduced their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada dropped their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Finally, KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Seven equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.46.

PPG Industries Company 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.