Monte Financial Group LLC Grows Stake in PPG Industries, Inc. (NYSE:PPG)

Monte Financial Group LLC grew its position in PPG Industries, Inc. (NYSE:PPG) by 21.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,211 shares of the specialty chemicals company’s stock after purchasing an additional 932 shares during the quarter. Monte Financial Group LLC’s holdings in PPG Industries were worth $618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC purchased a new position in PPG Industries in the third quarter worth $25,000. Krane Funds Advisors LLC purchased a new stake in shares of PPG Industries during the second quarter valued at $25,000. American National Bank purchased a new stake in shares of PPG Industries during the second quarter valued at $25,000. Coastal Investment Advisors Inc. grew its holdings in shares of PPG Industries by 280.0% during the second quarter. Coastal Investment Advisors Inc. now owns 228 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 168 shares during the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in shares of PPG Industries during the second quarter valued at $29,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America lowered shares of PPG Industries from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $135.00 to $103.00 in a report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $130.00 price objective on shares of PPG Industries in a report on Friday, November 1st. UBS Group boosted their price objective on shares of PPG Industries from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, BMO Capital Markets boosted their price objective on shares of PPG Industries from $113.00 to $129.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $128.44.

In other PPG Industries news, CEO Michael H. Mcgarry sold 11,916 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $125.00, for a total value of $1,489,500.00. Following the completion of the transaction, the chief executive officer now owns 131,350 shares in the company, valued at $16,418,750. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael H. Mcgarry sold 30,450 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $130.00, for a total transaction of $3,958,500.00. Following the completion of the transaction, the chief executive officer now owns 149,884 shares of the company’s stock, valued at approximately $19,484,920. The disclosure for this sale can be found here. Insiders have sold 54,366 shares of company stock valued at $6,888,000 over the last 90 days. 0.37% of the stock is currently owned by insiders.

NYSE PPG traded up $1.05 on Tuesday, reaching $130.25. 842,827 shares of the company’s stock traded hands, compared to its average volume of 1,238,279. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 2.21 and a beta of 1.24. The stock has a 50 day moving average price of $121.39 and a 200-day moving average price of $115.97. PPG Industries, Inc. has a fifty-two week low of $94.41 and a fifty-two week high of $130.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.49.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, October 17th. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.06. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.89 billion. PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 earnings per share. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 6.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.04 dividend on an annualized basis and a yield of 1.57%. PPG Industries’s dividend payout ratio is presently 34.46%.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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