PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 465.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 243 shares of the specialty chemicals company’s stock after purchasing an additional 200 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in PPG Industries were worth $32,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Financial Connections Group Inc. purchased a new stake in PPG Industries during the 2nd quarter worth $25,000. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the third quarter worth about $34,000. Rothschild Investment LLC purchased a new stake in shares of PPG Industries in the second quarter worth about $37,000. Hara Capital LLC acquired a new stake in shares of PPG Industries in the third quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of PPG Industries in the third quarter valued at about $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE PPG traded up $0.10 during trading hours on Thursday, reaching $123.45. The company’s stock had a trading volume of 984,876 shares, compared to its average volume of 1,577,226. The stock has a market cap of $28.64 billion, a PE ratio of 19.56, a PEG ratio of 1.92 and a beta of 1.26. The business has a 50-day simple moving average of $126.80 and a 200 day simple moving average of $127.22. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. 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 released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm earned $2.07 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.20%. PPG Industries’s payout ratio is 43.11%.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was 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. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada decreased their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Mizuho decreased their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

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.