RWA Wealth Partners LLC Takes Position in PPG Industries, Inc. (NYSE:PPG)

RWA Wealth Partners LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,521 shares of the specialty chemicals company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently bought and sold shares of the business. Wedmont Private Capital lifted its stake in PPG Industries by 2.9% in the 4th quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after acquiring an additional 70 shares in the last quarter. Barrett & Company Inc. increased its position in PPG Industries by 10.6% in the 4th quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock worth $114,000 after purchasing an additional 73 shares during the last quarter. CWA Asset Management Group LLC increased its position in PPG Industries by 2.0% in the 3rd quarter. CWA Asset Management Group LLC now owns 4,052 shares of the specialty chemicals company’s stock worth $526,000 after purchasing an additional 78 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in PPG Industries by 20.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 462 shares of the specialty chemicals company’s stock worth $69,000 after purchasing an additional 80 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its position in PPG Industries by 5.8% in the 4th quarter. WASHINGTON TRUST Co now owns 1,712 shares of the specialty chemicals company’s stock worth $256,000 after purchasing an additional 94 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $130.15 on Friday. The business has a 50 day moving average price of $139.31 and a 200 day moving average price of $138.86. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.60 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.55 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the company earned $1.82 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts predict that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.00%. PPG Industries’s dividend payout ratio is currently 43.92%.

PPG Industries declared that its board has approved a stock buyback 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 reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

PPG has been the topic of several research reports. Citigroup dropped their target price on PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft dropped their target price on PPG Industries from $160.00 to $155.00 and set a “buy” 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 issued a “peer perform” rating on the stock. BMO Capital Markets lowered their price objective on PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Evercore ISI lowered PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective on the stock. in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, PPG Industries has an average rating of “Hold” and a consensus target price of $155.47.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the firm’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 completion of the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.