Concurrent Investment Advisors LLC Buys 320 Shares of PPG Industries, Inc. (NYSE:PPG)

Concurrent Investment Advisors LLC increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 6.6% during the 4th quarter, Holdings Channel reports. The fund owned 5,165 shares of the specialty chemicals company’s stock after acquiring an additional 320 shares during the period. Concurrent Investment Advisors LLC’s holdings in PPG Industries were worth $617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. Allspring Global Investments Holdings LLC boosted its stake in PPG Industries by 15.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock worth $2,030,000 after acquiring an additional 2,047 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of PPG Industries by 6.9% in the third quarter. Private Advisor Group LLC now owns 12,123 shares of the specialty chemicals company’s stock valued at $1,606,000 after buying an additional 781 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of PPG Industries by 189.6% in the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after buying an additional 279,455 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of PPG Industries by 5.2% in the third quarter. Ballentine Partners LLC now owns 6,509 shares of the specialty chemicals company’s stock valued at $862,000 after buying an additional 322 shares in the last quarter. Finally, Parcion Private Wealth LLC bought a new position in shares of PPG Industries in the third quarter valued at $296,000. 81.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PPG has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group dropped their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Stock Performance

NYSE PPG opened at $114.88 on Monday. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The company has a 50-day simple moving average of $118.29 and a 200 day simple moving average of $123.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market capitalization of $26.65 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $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 is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

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.