PPG Industries, Inc. (NYSE:PPG) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its position in PPG Industries, Inc. (NYSE:PPG) by 11.1% during the third quarter, HoldingsChannel.com reports. The fund owned 47,279 shares of the specialty chemicals company’s stock after acquiring an additional 4,705 shares during the quarter. Cerity Partners LLC’s holdings in PPG Industries were worth $6,263,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Meridian Wealth Management LLC purchased a new stake in PPG Industries during the third quarter worth $249,000. Raymond James Trust N.A. raised its stake in shares of PPG Industries by 2.8% during the 3rd quarter. Raymond James Trust N.A. now owns 32,775 shares of the specialty chemicals company’s stock worth $4,341,000 after buying an additional 894 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares in the last quarter. Smithfield Trust Co grew its stake in PPG Industries by 0.7% in the 3rd quarter. Smithfield Trust Co now owns 124,382 shares of the specialty chemicals company’s stock valued at $16,475,000 after acquiring an additional 813 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in PPG Industries by 181.3% during the 3rd quarter. Pacer Advisors Inc. now owns 47,047 shares of the specialty chemicals company’s stock valued at $6,232,000 after acquiring an additional 30,322 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PPG. Royal Bank of Canada reduced 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 report on Tuesday, October 22nd. Mizuho reduced their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Up 0.0 %

Shares of NYSE PPG opened at $123.41 on Thursday. The stock has a market capitalization of $28.63 billion, a PE ratio of 19.56, a P/E/G ratio of 1.92 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 fifty day moving average of $126.80 and a 200-day moving average of $127.22. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were 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 in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

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.