4,303 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by MJP Associates Inc. ADV

MJP Associates Inc. ADV purchased a new position in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,303 shares of the specialty chemicals company’s stock, valued at approximately $514,000.

A number of other institutional investors also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new position in PPG Industries in the 4th quarter worth approximately $36,000. Albion Financial Group UT acquired a new stake in PPG Industries during the 4th quarter worth $38,000. Crews Bank & Trust acquired a new stake in PPG Industries during the 4th quarter worth $42,000. Sugar Maple Asset Management LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at $44,000. Finally, Millstone Evans Group LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at $46,000. Institutional investors own 81.86% of the company’s stock.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PPG shares. Citigroup cut their price objective on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Mizuho lowered their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.83.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $109.32 on Monday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $24.82 billion, a P/E ratio of 23.11, a P/E/G ratio of 2.19 and a beta of 1.20. The company’s 50 day moving average price is $106.58 and its two-hundred day moving average price is $115.51.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business posted $1.87 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, May 12th. PPG Industries’s payout ratio is currently 58.24%.

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.