Empowered Funds LLC Buys 868 Shares of PPG Industries, Inc. (NYSE:PPG)

Empowered Funds LLC lifted its position in PPG Industries, Inc. (NYSE:PPG) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,541 shares of the specialty chemicals company’s stock after buying an additional 868 shares during the quarter. Empowered Funds LLC’s holdings in PPG Industries were worth $2,721,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Empirical Finance LLC grew its position in shares of PPG Industries by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 8,148 shares of the specialty chemicals company’s stock valued at $1,079,000 after acquiring an additional 172 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in PPG Industries by 1.5% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 46,010 shares of the specialty chemicals company’s stock valued at $6,095,000 after purchasing an additional 667 shares during the last quarter. CIBC Asset Management Inc grew its holdings in PPG Industries by 7.5% during the third quarter. CIBC Asset Management Inc now owns 34,101 shares of the specialty chemicals company’s stock worth $4,517,000 after purchasing an additional 2,382 shares during the period. OneDigital Investment Advisors LLC increased its position in PPG Industries by 13.0% during the third quarter. OneDigital Investment Advisors LLC now owns 5,895 shares of the specialty chemicals company’s stock worth $781,000 after buying an additional 677 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake 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 valued at $1,774,000 after buying an additional 2,205 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE:PPG opened at $121.08 on Wednesday. The company has a market cap of $28.09 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.87 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two 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. The stock has a fifty day moving average price of $127.22 and a 200-day moving average price of $127.64.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate 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 prior year, the company earned $2.07 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.25%. PPG Industries’s dividend payout ratio is currently 43.11%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets restated 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. Six research 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 stock. According to MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

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.