Frazier Financial Advisors LLC Takes Position in PPG Industries, Inc. (NYSE:PPG)

Frazier Financial Advisors LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,804 shares of the specialty chemicals company’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedmont Private Capital lifted its holdings in PPG Industries by 2.9% in the fourth quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after buying an additional 70 shares during the period. Barrett & Company Inc. lifted its holdings in shares of PPG Industries by 10.6% during the fourth quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock valued at $114,000 after purchasing an additional 73 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of PPG Industries by 2.0% during the third quarter. CWA Asset Management Group LLC now owns 4,052 shares of the specialty chemicals company’s stock valued at $526,000 after purchasing an additional 78 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of PPG Industries by 20.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 462 shares of the specialty chemicals company’s stock valued at $69,000 after purchasing an additional 80 shares during the last quarter. Finally, Gryphon Financial Partners LLC lifted its holdings in shares of PPG Industries by 1.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after purchasing an additional 81 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

PPG stock traded up $0.97 during mid-day trading on Wednesday, hitting $134.70. The company had a trading volume of 1,681,775 shares, compared to its average volume of 1,709,465. The company has a market capitalization of $31.59 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.66 and a beta of 1.30. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $136.65 and a 200 day moving average price of $139.95.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting the consensus estimate of $1.86. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. On average, research analysts anticipate that PPG Industries, Inc. will post 8.44 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.93%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

PPG Industries declared that its Board of Directors has approved a share buyback program on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PPG shares. UBS Group reduced their price target on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $150.00 to $163.00 in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Finally, KeyCorp cut their target price on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $155.47.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish purchased 2,061 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the acquisition, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Timothy M. Knavish purchased 2,061 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the acquisition, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

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.