Mirabella Financial Services LLP Boosts Holdings in PPG Industries, Inc. (NYSE:PPG)

Mirabella Financial Services LLP raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 92.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,556 shares of the specialty chemicals company’s stock after acquiring an additional 5,059 shares during the quarter. Mirabella Financial Services LLP’s holdings in PPG Industries were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in PPG Industries during the 3rd quarter valued at about $194,000. Independent Advisor Alliance increased its holdings in PPG Industries by 4.5% during the 3rd quarter. Independent Advisor Alliance now owns 9,702 shares of the specialty chemicals company’s stock valued at $1,285,000 after acquiring an additional 417 shares in the last quarter. Douglass Winthrop Advisors LLC purchased a new position in PPG Industries during the 3rd quarter valued at about $549,000. Daiwa Securities Group Inc. increased its holdings in PPG Industries by 30.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 37,292 shares of the specialty chemicals company’s stock valued at $4,940,000 after acquiring an additional 8,670 shares in the last quarter. Finally, Alpha DNA Investment Management LLC increased its holdings in PPG Industries by 1.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after acquiring an additional 92 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated 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 directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.

PPG Industries Stock Down 0.0 %

PPG Industries stock opened at $122.65 on Monday. The company has a 50-day simple moving average of $127.00 and a 200-day simple moving average of $127.40. The firm has a market capitalization of $28.45 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16.

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

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.22%. PPG Industries’s dividend payout ratio is presently 43.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. 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. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Mizuho decreased their price objective 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. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.93.

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.