PPG Industries, Inc. (NYSE:PPG) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its position in PPG Industries, Inc. (NYSE:PPG) by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,683 shares of the specialty chemicals company’s stock after buying an additional 819 shares during the period. Axxcess Wealth Management LLC’s holdings in PPG Industries were worth $999,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of PPG Industries by 12.5% during the third quarter. Commonwealth Equity Services LLC now owns 71,209 shares of the specialty chemicals company’s stock valued at $9,243,000 after acquiring an additional 7,886 shares during the last quarter. Brown Advisory Inc. raised its position in PPG Industries by 3.3% in the third quarter. Brown Advisory Inc. now owns 106,880 shares of the specialty chemicals company’s stock valued at $13,873,000 after purchasing an additional 3,437 shares during the period. Brighton Jones LLC lifted its stake in PPG Industries by 4.1% during the third quarter. Brighton Jones LLC now owns 3,621 shares of the specialty chemicals company’s stock worth $470,000 after purchasing an additional 141 shares in the last quarter. Baystate Wealth Management LLC boosted its position in shares of PPG Industries by 6.3% during the third quarter. Baystate Wealth Management LLC now owns 1,927 shares of the specialty chemicals company’s stock worth $250,000 after buying an additional 115 shares during the period. Finally, Strs Ohio raised its holdings in shares of PPG Industries by 30.0% in the 3rd quarter. Strs Ohio now owns 126,676 shares of the specialty chemicals company’s stock valued at $16,442,000 after buying an additional 29,203 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG stock opened at $133.04 on Tuesday. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The stock’s 50-day moving average price is $137.97 and its 200 day moving average price is $139.08. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $31.20 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30.

PPG Industries (NYSE:PPG) last issued its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting the consensus estimate of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 EPS. As a group, equities research analysts forecast that PPG Industries, Inc. will post 8.45 EPS for the current year.

PPG Industries announced that its Board of Directors has approved a share buyback plan on Thursday, April 18th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 1.95%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

Insider Activity

In related news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

PPG has been the subject of a number of research analyst reports. KeyCorp lowered their target price on PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Robert W. Baird restated an “outperform” rating and issued a $150.00 price objective on shares of PPG Industries in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $150.00 to $163.00 in a research note on Thursday, April 11th. 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.47.

About PPG Industries

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.