Raymond James Financial Inc. Buys Shares of 687,071 PPG Industries, Inc. (NYSE:PPG)

Raymond James Financial Inc. bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 687,071 shares of the specialty chemicals company’s stock, valued at approximately $82,071,000. Raymond James Financial Inc. owned approximately 0.30% of PPG Industries as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new stake in PPG Industries in the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. raised its stake in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries during the 3rd quarter worth approximately $34,000. Albion Financial Group UT bought a new stake in shares of PPG Industries during the 4th quarter worth approximately $38,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of PPG Industries during the 3rd quarter worth approximately $46,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.1 %

NYSE PPG opened at $115.47 on Monday. The business has a 50 day simple moving average of $116.82 and a 200 day simple moving average of $122.75. PPG Industries, Inc. has a one year low of $109.15 and a one year high of $145.61. The stock has a market capitalization of $26.21 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

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

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.36%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Buying and Selling

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 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. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

PPG has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Citigroup dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. UBS Group dropped their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Hold” and a consensus price target of $138.15.

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.