Archer Investment Corp Invests $286,000 in PPG Industries, Inc. (NYSE:PPG)

Archer Investment Corp bought a new stake in PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, Holdings Channel reports. The fund bought 2,158 shares of the specialty chemicals company’s stock, valued at approximately $286,000.

Other large investors have also recently added to or reduced their stakes in the company. Vest Financial LLC boosted its stake in PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares during the last quarter. BDF Gestion bought a new position in PPG Industries during the 2nd quarter valued at $3,452,000. Vanguard Group Inc. lifted its position in shares of PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after buying an additional 4,222,402 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of PPG Industries in the 3rd quarter worth about $604,000. Finally, Swedbank AB lifted its position in shares of PPG Industries by 6.3% in the 2nd quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock worth $19,986,000 after buying an additional 9,412 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Transactions at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by insiders.

PPG Industries Stock Performance

Shares of PPG Industries stock traded down $0.21 on Friday, reaching $123.31. The stock had a trading volume of 109,226 shares, compared to its average volume of 1,580,620. The business’s 50-day moving average price is $127.42 and its two-hundred day moving average price is $127.87. 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 fifty-two week low of $118.07 and a fifty-two week high of $151.16. The stock has a market cap of $28.61 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 earnings per share. On average, sell-side analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PPG shares. Citigroup reduced their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Bank of America lowered their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, KeyCorp lowered their target price 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 twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

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.