Global Retirement Partners LLC Buys 124 Shares of PPG Industries, Inc. (NYSE:PPG)

Global Retirement Partners LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,040 shares of the specialty chemicals company’s stock after purchasing an additional 124 shares during the period. Global Retirement Partners LLC’s holdings in PPG Industries were worth $602,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the 3rd quarter worth approximately $34,000. Hara Capital LLC purchased a new position in shares of PPG Industries in the 3rd quarter worth approximately $40,000. Finally, Albion Financial Group UT purchased a new position in shares of PPG Industries in the 4th quarter worth approximately $38,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

PPG Industries stock opened at $114.88 on Friday. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The business has a fifty day moving average price of $118.29 and a 200-day moving average price of $123.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $26.65 billion, a P/E ratio of 24.29, a PEG ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG) last posted 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%. As a group, equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current 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 issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PPG. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Royal Bank of Canada cut their target price 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. The Goldman Sachs Group cut their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.15.

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.