Resonant Capital Advisors LLC Takes $278,000 Position in PPG Industries, Inc. (NYSE:PPG)

Resonant Capital Advisors LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, HoldingsChannel.com reports. The fund bought 2,080 shares of the specialty chemicals company’s stock, valued at approximately $278,000.

Other large investors have also bought and sold shares of the company. State Street Corp grew its position in PPG Industries by 0.6% in the third quarter. State Street Corp now owns 11,625,446 shares of the specialty chemicals company’s stock valued at $1,377,732,000 after acquiring an additional 69,569 shares during the period. Parnassus Investments CA raised its stake in PPG Industries by 4.3% during the fourth quarter. Parnassus Investments CA now owns 4,382,491 shares of the specialty chemicals company’s stock worth $585,019,000 after acquiring an additional 179,975 shares in the last quarter. Bank of New York Mellon Corp raised its stake in PPG Industries by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,455,539 shares of the specialty chemicals company’s stock worth $327,791,000 after acquiring an additional 35,161 shares in the last quarter. Charles Schwab Investment Advisory Inc. lifted its holdings in shares of PPG Industries by 1.5% during the fourth quarter. Charles Schwab Investment Advisory Inc. now owns 2,300,149 shares of the specialty chemicals company’s stock valued at $307,047,000 after acquiring an additional 33,683 shares during the period. Finally, FMR LLC lifted its holdings in shares of PPG Industries by 245.6% during the fourth quarter. FMR LLC now owns 1,298,518 shares of the specialty chemicals company’s stock valued at $173,339,000 after acquiring an additional 922,840 shares during the period. 77.78% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. UBS Group reduced their price target on shares of PPG Industries from $141.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday. Berenberg Bank cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada reissued a “buy” rating and issued a $100.00 target price on shares of PPG Industries in a report on Thursday. Bank of America upgraded PPG Industries from an “underperform” rating to a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Co dropped their price target on PPG Industries from $155.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $125.00.

PPG traded up $4.05 during trading on Thursday, hitting $89.76. The company had a trading volume of 1,984,081 shares, compared to its average volume of 2,207,337. The company has a market capitalization of $19.36 billion, a PE ratio of 17.23, a PEG ratio of 1.88 and a beta of 1.27. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 0.96. PPG Industries, Inc. has a one year low of $69.77 and a one year high of $134.36. The firm’s 50-day moving average price is $105.47 and its 200 day moving average price is $120.40.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 16th. The specialty chemicals company reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.03). The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a net margin of 8.21% and a return on equity of 28.25%. PPG Industries’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 6.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, January 21st were paid a $0.51 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.04 annualized dividend and a yield of 2.27%. PPG Industries’s dividend payout ratio is 32.80%.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

Further Reading: Cash Asset Ratio

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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