CoreFirst Bank & Trust Invests $72,000 in PPG Industries, Inc. (NYSE:PPG)

CoreFirst Bank & Trust acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 600 shares of the specialty chemicals company’s stock, valued at approximately $72,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. grew its holdings in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Albion Financial Group UT acquired a new position in PPG Industries during the fourth quarter worth approximately $38,000. Crews Bank & Trust purchased a new position in PPG Industries during the fourth quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in PPG Industries during the fourth quarter worth approximately $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup dropped their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. UBS Group cut their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, 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. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $138.15.

PPG Industries Price Performance

Shares of PPG stock opened at $111.55 on Wednesday. The firm has a fifty day simple moving average of $115.96 and a 200-day simple moving average of $121.52. The company has a market capitalization of $25.32 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

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

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

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.