PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. raised its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,633 shares of the specialty chemicals company’s stock after purchasing an additional 3,139 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in PPG Industries were worth $2,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries in the second quarter worth $25,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries in the second quarter worth $37,000. LRI Investments LLC increased its position in shares of PPG Industries by 463.8% in the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock worth $49,000 after acquiring an additional 320 shares in the last quarter. Slocum Gordon & Co LLP increased its position in shares of PPG Industries by 51.7% in the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after acquiring an additional 155 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. increased its position in shares of PPG Industries by 103.6% in the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 203 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PPG. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Barclays decreased their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Citigroup decreased their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Trading Down 0.1 %

PPG Industries stock opened at $124.41 on Friday. The firm’s 50-day moving average is $127.99 and its 200-day moving average is $128.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a market cap of $28.86 billion, a P/E ratio of 19.72, a PEG ratio of 1.90 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business earned $2.07 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. On average, equities analysts expect that PPG Industries, Inc. will post 8.19 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.19%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.55% 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.