PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Advisors Capital Management LLC

Advisors Capital Management LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,895 shares of the specialty chemicals company’s stock after purchasing an additional 132 shares during the quarter. Advisors Capital Management LLC’s holdings in PPG Industries were worth $226,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PPG. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the 4th quarter valued at approximately $27,000. Prudent Man Investment Management Inc. acquired a new position in PPG Industries during the fourth quarter valued at $36,000. Albion Financial Group UT purchased a new stake in PPG Industries in the fourth quarter valued at $38,000. Crews Bank & Trust purchased a new stake in PPG Industries in the fourth quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PPG. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price objective on PPG Industries from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Mizuho lowered their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Bank of America reaffirmed a “neutral” rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $132.31.

PPG Industries Trading Down 1.8 %

PPG stock opened at $99.63 on Wednesday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The business’s 50-day moving average is $110.28 and its 200 day moving average is $118.62. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

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.