PPG Industries, Inc. (NYSE:PPG) Stock Position Lifted by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC raised its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 46,010 shares of the specialty chemicals company’s stock after purchasing an additional 667 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in PPG Industries were worth $6,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CIBC Asset Management Inc grew its stake in PPG Industries by 7.5% in the third quarter. CIBC Asset Management Inc now owns 34,101 shares of the specialty chemicals company’s stock valued at $4,517,000 after purchasing an additional 2,382 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of PPG Industries by 13.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,895 shares of the specialty chemicals company’s stock valued at $781,000 after buying an additional 677 shares in the last quarter. Metis Global Partners LLC increased its holdings in PPG Industries by 19.7% in the third quarter. Metis Global Partners LLC now owns 13,396 shares of the specialty chemicals company’s stock worth $1,774,000 after buying an additional 2,205 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in PPG Industries by 24.5% during the third quarter. Oppenheimer & Co. Inc. now owns 33,953 shares of the specialty chemicals company’s stock valued at $4,497,000 after acquiring an additional 6,675 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in PPG Industries by 13.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 85,562 shares of the specialty chemicals company’s stock valued at $11,334,000 after acquiring an additional 9,988 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 1.5 %

Shares of PPG stock opened at $121.70 on Friday. The firm has a fifty day moving average of $127.45 and a 200-day moving average of $127.90. The stock has a market cap of $28.23 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 1.89 and a beta of 1.26. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. 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 (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS 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 business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PPG. KeyCorp reduced their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Bank of America cut their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada decreased their target price on 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. Finally, Citigroup dropped 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. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.