1,298 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Prospera Private Wealth LLC

Prospera Private Wealth LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, Holdings Channel reports. The fund bought 1,298 shares of the specialty chemicals company’s stock, valued at approximately $172,000.

Other large investors also recently modified their holdings of the company. Financial Connections Group Inc. bought a new stake in shares of PPG Industries in the second quarter worth about $25,000. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the third quarter worth about $34,000. Rothschild Investment LLC bought a new stake in shares of PPG Industries in the second quarter worth about $37,000. Hara Capital LLC bought a new stake in PPG Industries during the 3rd quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in PPG Industries during the 3rd quarter valued at approximately $46,000. 81.86% of the stock is owned by institutional investors.

Insider Activity at PPG Industries

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 stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

PPG Industries Stock Up 0.2 %

Shares of PPG opened at $121.29 on Thursday. The stock has a market capitalization of $28.14 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.87 and a beta of 1.26. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The business’s 50 day simple moving average is $127.14 and its 200-day simple moving average is $127.59. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results 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 return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $2.07 EPS. PPG Industries’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

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

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.