Truvestments Capital LLC Invests $188,000 in PPG Industries, Inc. (NYSE:PPG)

Truvestments Capital LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,295 shares of the specialty chemicals company’s stock, valued at approximately $188,000.

A number of other large investors also recently made changes to their positions in PPG. Private Wealth Management Group LLC acquired a new stake in PPG Industries in the 4th quarter worth about $27,000. CVA Family Office LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $29,000. Finally, LifeSteps Financial Inc. acquired a new stake in PPG Industries during the first quarter worth approximately $29,000. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PPG shares. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday, April 22nd. BMO Capital Markets cut their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Royal Bank of Canada cut their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday. Finally, KeyCorp decreased their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Trading Up 1.3 %

PPG Industries stock traded up $1.61 during trading hours on Friday, hitting $127.55. The stock had a trading volume of 1,579,781 shares, compared to its average volume of 1,561,094. The business’s 50 day simple moving average is $128.79 and its 200-day simple moving average is $135.55. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $151.16. The stock has a market cap of $29.76 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 1.70 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that PPG Industries, Inc. will post 8.26 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be paid a $0.68 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.13%. PPG Industries’s payout ratio is currently 43.92%.

PPG Industries declared that its Board of Directors has authorized a share repurchase program on Thursday, April 18th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish bought 2,061 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of $133.24 per share, with a total value of $274,607.64. Following the acquisition, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by company insiders.

About PPG Industries

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.