Nemes Rush Group LLC Has $157,000 Stake in PPG Industries, Inc. (NYSE:PPG)

Nemes Rush Group LLC decreased its position in PPG Industries, Inc. (NYSE:PPG) by 20.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,052 shares of the specialty chemicals company’s stock after selling 276 shares during the quarter. Nemes Rush Group LLC’s holdings in PPG Industries were worth $157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valued Wealth Advisors LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $26,000. SJS Investment Consulting Inc. increased its position in shares of PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 153 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $27,000. CVA Family Office LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PPG shares. Seaport Res Ptn raised PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday, April 22nd. Barclays lowered their price target on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Wolfe Research began coverage on PPG Industries in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Royal Bank of Canada lowered their price target on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, UBS Group lowered their price target on PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $155.47.

PPG Industries Price Performance

Shares of PPG stock traded up $0.68 during trading on Wednesday, hitting $134.41. The company had a trading volume of 296,859 shares, compared to its average volume of 1,694,537. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. The firm has a market capitalization of $31.52 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.66 and a beta of 1.30. The stock’s 50-day moving average price is $136.65 and its 200 day moving average price is $139.95. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.86. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. Equities analysts expect that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is currently 43.92%.

PPG Industries declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 18th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish bought 2,061 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the purchase, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy M. Knavish bought 2,061 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were acquired at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the purchase, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by corporate 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.