Uncommon Cents Investing LLC Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

Uncommon Cents Investing LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,700 shares of the specialty chemicals company’s stock after selling 507 shares during the quarter. Uncommon Cents Investing LLC’s holdings in PPG Industries were worth $2,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Norden Group LLC purchased a new position in shares of PPG Industries in the first quarter worth $252,000. Bourgeon Capital Management LLC increased its position in PPG Industries by 2,800.8% during the first quarter. Bourgeon Capital Management LLC now owns 3,626 shares of the specialty chemicals company’s stock valued at $525,000 after acquiring an additional 3,501 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in PPG Industries during the first quarter valued at $31,033,000. Applied Capital LLC FL increased its position in PPG Industries by 1.3% during the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock valued at $928,000 after acquiring an additional 82 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in PPG Industries by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,230 shares of the specialty chemicals company’s stock valued at $2,207,000 after acquiring an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish bought 2,061 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

PPG Industries Price Performance

Shares of NYSE PPG traded down $0.01 during mid-day trading on Thursday, reaching $124.87. The company’s stock had a trading volume of 703,007 shares, compared to its average volume of 1,396,604. The firm has a market capitalization of $29.28 billion, a PE ratio of 21.09, a P/E/G ratio of 1.55 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The stock has a fifty day moving average of $130.39 and a two-hundred day moving average of $137.90. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries announced that its board has approved a share repurchase program on Thursday, April 18th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 10th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.08%. PPG Industries’s dividend payout ratio is currently 43.92%.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of research reports. Evercore ISI cut PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective for the company. in a research report on Monday, April 22nd. Bank of America reduced their price objective on PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday, April 22nd. BMO Capital Markets reduced their price objective on PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, April 23rd. Finally, KeyCorp cut their price target on PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.47.

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.