Wealthfront Advisers LLC Purchases 17,090 Shares of PPG Industries, Inc. (NYSE:PPG)

Wealthfront Advisers LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 256.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,761 shares of the specialty chemicals company’s stock after purchasing an additional 17,090 shares during the period. Wealthfront Advisers LLC’s holdings in PPG Industries were worth $2,838,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPG. PUREfi Wealth LLC bought a new position in shares of PPG Industries during the 4th quarter worth approximately $279,000. PFW Advisors LLC acquired a new stake in PPG Industries during the 4th quarter valued at $868,000. Equity Investment Corp boosted its position in PPG Industries by 7.0% during the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after purchasing an additional 42,380 shares during the period. JGP Wealth Management LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at $4,050,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares during the period. Institutional investors own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PPG. Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Price Performance

Shares of PPG stock opened at $111.44 on Friday. The business has a fifty day simple moving average of $116.37 and a 200 day simple moving average of $122.43. The company has a market cap of $25.29 billion, a P/E ratio of 23.56, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.44%. PPG Industries’s payout ratio is presently 57.51%.

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.