Stoneridge Investment Partners LLC Invests $949,000 in PPG Industries, Inc. (NYSE:PPG)

Stoneridge Investment Partners LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,941 shares of the specialty chemicals company’s stock, valued at approximately $949,000.

Other large investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the fourth quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. grew its stake in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new stake in PPG Industries during the third quarter valued at approximately $34,000. Hara Capital LLC bought a new stake in PPG Industries during the third quarter valued at approximately $40,000. Finally, Albion Financial Group UT bought a new stake in PPG Industries during the fourth quarter valued at approximately $38,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PPG shares. Citigroup cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. UBS Group lowered their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Mizuho lowered their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. Finally, StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.46.

PPG Industries Stock Down 0.9 %

Shares of PPG Industries stock opened at $114.87 on Friday. 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, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. The firm’s 50-day moving average is $120.03 and its two-hundred day moving average is $123.84. The stock has a market cap of $26.65 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, research analysts expect that PPG Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

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.