Moran Wealth Management LLC Buys Shares of 42,182 PPG Industries, Inc. (NYSE:PPG)

Moran Wealth Management LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,182 shares of the specialty chemicals company’s stock, valued at approximately $5,039,000.

Other institutional investors also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in PPG Industries in the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in PPG Industries in the third quarter valued at about $34,000. Albion Financial Group UT bought a new position in PPG Industries in the fourth quarter valued at about $38,000. Finally, Crews Bank & Trust bought a new position in PPG Industries in the fourth quarter valued at about $42,000. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PPG shares. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada reduced their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries has a consensus rating of “Hold” and a consensus target price of $138.15.

PPG Industries Stock Performance

NYSE:PPG opened at $114.71 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61. The stock has a 50-day moving average price of $116.74 and a 200 day moving average price of $122.68. The stock has a market capitalization of $26.03 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last released 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 return on equity of 23.78% and a net margin of 6.41%. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by company insiders.

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.