CGN Advisors LLC Makes New $1.28 Million Investment in PPG Industries, Inc. (NYSE:PPG)

CGN Advisors LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,709 shares of the specialty chemicals company’s stock, valued at approximately $1,279,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPG. Mercer Global Advisors Inc. ADV grew its stake in shares of PPG Industries by 5.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 21,987 shares of the specialty chemicals company’s stock worth $2,954,000 after purchasing an additional 1,105 shares during the last quarter. Argent Trust Co grew its position in shares of PPG Industries by 9.3% in the 2nd quarter. Argent Trust Co now owns 2,187 shares of the specialty chemicals company’s stock valued at $275,000 after buying an additional 186 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of PPG Industries by 50.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,866 shares of the specialty chemicals company’s stock valued at $1,983,000 after buying an additional 5,352 shares during the period. Blair William & Co. IL raised its position in shares of PPG Industries by 4.8% during the second quarter. Blair William & Co. IL now owns 36,127 shares of the specialty chemicals company’s stock worth $4,548,000 after acquiring an additional 1,657 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of PPG Industries by 1,245.7% during the second quarter. Intech Investment Management LLC now owns 53,679 shares of the specialty chemicals company’s stock worth $6,758,000 after acquiring an additional 49,690 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on PPG shares. Citigroup decreased 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 report on Wednesday, December 18th. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Mizuho cut their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price objective 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, JPMorgan Chase & Co. cut their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $149.29.

PPG Industries Stock Up 0.5 %

PPG Industries stock opened at $120.14 on Friday. The firm has a market capitalization of $27.87 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. The firm’s fifty day moving average price is $121.26 and its two-hundred day moving average price is $124.80. PPG Industries, Inc. has a 1-year low of $113.00 and a 1-year high of $145.86. 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 (NYSE:PPG) last released its quarterly 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 for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post 8.15 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. PPG Industries’s payout ratio is 43.11%.

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 document filed with the SEC, which is accessible through the SEC website. 0.56% of the stock is currently owned by insiders.

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.