Aptus Capital Advisors LLC Acquires Shares of 2,463 PPG Industries, Inc. (NYSE:PPG)

Aptus Capital Advisors LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,463 shares of the specialty chemicals company’s stock, valued at approximately $326,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in PPG Industries by 17.2% in the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after acquiring an additional 368,410 shares during the last quarter. Boston Partners boosted its stake in shares of PPG Industries by 4.9% during the first quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock valued at $248,172,000 after acquiring an additional 80,710 shares during the last quarter. ProShare Advisors LLC lifted its position in PPG Industries by 12.2% during the second quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock worth $176,751,000 after buying an additional 152,719 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in PPG Industries by 9.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock worth $162,862,000 after buying an additional 100,391 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’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 completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

PPG opened at $122.53 on Friday. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.89 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $127.37 and a 200-day moving average price of $127.81. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16.

PPG Industries (NYSE:PPG) last announced its 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). The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. Equities analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

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. This represents a $2.72 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented 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 report on Friday, October 18th. Royal Bank of Canada lowered their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Mizuho lowered their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. KeyCorp lowered their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Bank of America lowered their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company 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. Based on data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $149.93.

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.