Atlas Legacy Advisors LLC Invests $242,000 in PPG Industries, Inc. (NYSE:PPG)

Atlas Legacy Advisors LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 2,029 shares of the specialty chemicals company’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PPG. Vontobel Holding Ltd. lifted its position in shares of PPG Industries by 7.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426 shares of the specialty chemicals company’s stock worth $454,000 after purchasing an additional 227 shares during the period. Stratos Wealth Advisors LLC lifted its position in shares of PPG Industries by 6.7% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,970 shares of the specialty chemicals company’s stock worth $393,000 after purchasing an additional 187 shares during the period. Blue Trust Inc. lifted its position in shares of PPG Industries by 46.3% in the 3rd quarter. Blue Trust Inc. now owns 3,633 shares of the specialty chemicals company’s stock worth $457,000 after purchasing an additional 1,149 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of PPG Industries by 15.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock worth $2,030,000 after purchasing an additional 2,047 shares during the period. Finally, Copeland Capital Management LLC purchased a new stake in shares of PPG Industries in the 3rd quarter worth about $124,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Royal Bank of Canada lowered their price target 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. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $138.15.

PPG Industries Stock Down 2.0 %

NYSE:PPG opened at $116.82 on Thursday. The firm has a market cap of $27.10 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.19 and a beta of 1.23. 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, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The firm has a 50-day simple moving average of $118.60 and a two-hundred day simple moving average of $123.29.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.33%. PPG Industries’s dividend payout ratio is presently 57.51%.

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.