20,326 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 20,326 shares of the specialty chemicals company’s stock, valued at approximately $2,559,000.

Several other hedge funds have also bought and sold shares of PPG. Trust Point Inc. purchased a new stake in PPG Industries during the fourth quarter valued at about $1,145,000. Ballentine Partners LLC lifted its position in PPG Industries by 2.9% in the 4th quarter. Ballentine Partners LLC now owns 6,279 shares of the specialty chemicals company’s stock worth $939,000 after buying an additional 178 shares during the last quarter. KG&L Capital Management LLC purchased a new stake in PPG Industries in the fourth quarter worth approximately $218,000. International Assets Investment Management LLC bought a new position in PPG Industries during the fourth quarter valued at approximately $74,492,000. Finally, Arkadios Wealth Advisors lifted its holdings in shares of PPG Industries by 18.6% in the 4th quarter. Arkadios Wealth Advisors now owns 2,210 shares of the specialty chemicals company’s stock worth $331,000 after acquiring an additional 347 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish acquired 2,061 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the acquisition, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

PPG Industries Stock Down 1.9 %

NYSE:PPG traded down $2.42 on Friday, reaching $123.46. 1,250,185 shares of the stock traded hands, compared to its average volume of 1,674,963. The company’s fifty day simple moving average is $128.12 and its 200 day simple moving average is $134.87. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $28.95 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.70 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the business posted $2.25 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries declared that its Board of Directors has authorized a stock buyback program on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be given a $0.68 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. PPG Industries’s payout ratio is 45.95%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $163.00 in a research report on Thursday, April 11th. Bank of America decreased their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Citigroup reduced their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Evercore ISI cut PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price for the company. in a research note on Monday, April 22nd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

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.