Flagship Wealth Advisors LLC Invests $48,000 in PPG Industries, Inc. (NYSE:PPG)

Flagship Wealth Advisors LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 400 shares of the specialty chemicals company’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. grew its position in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of PPG Industries in the 4th quarter worth approximately $38,000. Crews Bank & Trust purchased a new position in shares of PPG Industries in the 4th quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PPG shares. Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Citigroup lowered 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 note on Wednesday, December 18th. Royal Bank of Canada lowered their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, PPG Industries currently has an average rating of “Hold” and an average target price of $138.15.

PPG Industries Stock Performance

PPG opened at $113.85 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a fifty day moving average price of $116.33 and a 200 day moving average price of $122.16. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. The stock has a market cap of $25.84 billion, a P/E ratio of 24.07, a P/E/G ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. Equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Activity 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 shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% 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.