Proficio Capital Partners LLC Purchases New Stake in PPG Industries, Inc. (NYSE:PPG)

Proficio Capital Partners LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 58,579 shares of the specialty chemicals company’s stock, valued at approximately $6,997,000.

Other hedge funds have also bought and sold shares of the company. PUREfi Wealth LLC acquired a new stake in PPG Industries in the 4th quarter valued at $279,000. PFW Advisors LLC purchased a new position in PPG Industries during the 4th quarter worth $868,000. Equity Investment Corp grew its stake 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 acquiring an additional 42,380 shares in the last quarter. JGP Wealth Management LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $4,050,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PPG shares. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Barclays restated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group cut their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.15.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by corporate insiders.

PPG Industries Stock Performance

NYSE PPG opened at $111.72 on Tuesday. The company’s 50 day moving average is $117.40 and its 200-day moving average is $123.02. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market cap of $25.36 billion, a P/E ratio of 23.62, a price-to-earnings-growth 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 earnings per share (EPS) 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%. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.43%. PPG Industries’s dividend payout ratio is currently 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.