Dana Investment Advisors Inc. Purchases New Stake in PPG Industries, Inc. (NYSE:PPG)

Dana Investment Advisors Inc. purchased a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, HoldingsChannel reports. The firm purchased 15,407 shares of the specialty chemicals company’s stock, valued at approximately $1,840,000.

A number of other large investors have also added to or reduced their stakes in PPG. Legend Financial Advisors Inc. bought a new stake in PPG Industries in the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. raised its stake in PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new stake in PPG Industries in the 3rd quarter valued at $34,000. Albion Financial Group UT bought a new stake in PPG Industries in the 4th quarter valued at $38,000. Finally, Hara Capital LLC bought a new position in PPG Industries during the 3rd quarter worth $40,000. Institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, 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 filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PPG shares. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.15.

PPG Industries Stock Performance

NYSE:PPG opened at $115.47 on Friday. The stock’s 50-day simple moving average is $116.82 and its 200 day simple moving average is $122.77. The firm has a market capitalization of $26.21 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

About PPG Industries

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.