Kestra Private Wealth Services LLC Acquires 1,107 Shares of PPG Industries, Inc. (NYSE:PPG)

Kestra Private Wealth Services LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,432 shares of the specialty chemicals company’s stock after buying an additional 1,107 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in PPG Industries were worth $1,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC lifted its stake in PPG Industries by 24.7% in the third quarter. CWM LLC now owns 11,886 shares of the specialty chemicals company’s stock valued at $1,574,000 after buying an additional 2,351 shares during the period. Ritholtz Wealth Management acquired a new position in shares of PPG Industries during the 3rd quarter valued at $604,000. Exchange Traded Concepts LLC boosted its stake in PPG Industries by 156.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the specialty chemicals company’s stock worth $154,000 after acquiring an additional 707 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in PPG Industries in the third quarter worth $352,000. Finally, Vontobel Holding Ltd. increased its stake in PPG Industries by 7.1% in the third quarter. Vontobel Holding Ltd. now owns 3,426 shares of the specialty chemicals company’s stock valued at $454,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of a number of analyst reports. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada cut their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Citigroup decreased 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 Wednesday, December 18th. The Goldman Sachs Group cut their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

PPG Industries Stock Performance

PPG Industries stock opened at $114.77 on Thursday. The company has a market capitalization of $26.63 billion, a PE ratio of 24.26, a P/E/G ratio of 1.97 and a beta of 1.23. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. The firm has a fifty day simple moving average of $119.57 and a two-hundred day simple moving average of $123.64. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

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%. Research analysts expect that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

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.