Brighton Jones LLC Buys 5,293 Shares of PPG Industries, Inc. $PPG

Brighton Jones LLC raised its stake in PPG Industries, Inc. (NYSE:PPG) by 106.1% during the 3rd quarter, Holdings Channel reports. The fund owned 10,282 shares of the specialty chemicals company’s stock after acquiring an additional 5,293 shares during the period. Brighton Jones LLC’s holdings in PPG Industries were worth $1,073,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Ethic Inc. increased its stake in shares of PPG Industries by 7.2% during the third quarter. Ethic Inc. now owns 44,944 shares of the specialty chemicals company’s stock worth $4,689,000 after purchasing an additional 3,038 shares during the period. StoneX Group Inc. lifted its holdings in PPG Industries by 25.9% during the 3rd quarter. StoneX Group Inc. now owns 3,276 shares of the specialty chemicals company’s stock worth $346,000 after purchasing an additional 674 shares during the last quarter. Parallel Advisors LLC boosted its stake in PPG Industries by 9.5% in the 3rd quarter. Parallel Advisors LLC now owns 2,571 shares of the specialty chemicals company’s stock valued at $268,000 after purchasing an additional 223 shares during the period. Guidance Capital Inc. boosted its stake in PPG Industries by 2.1% in the 3rd quarter. Guidance Capital Inc. now owns 11,757 shares of the specialty chemicals company’s stock valued at $1,227,000 after purchasing an additional 240 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its stake in PPG Industries by 2.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 5,493 shares of the specialty chemicals company’s stock valued at $573,000 after purchasing an additional 119 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

PPG opened at $124.80 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The firm has a market cap of $27.57 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The business’s fifty day moving average is $110.56 and its 200-day moving average is $113.02.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.13. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. PPG Industries’s revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts expect that PPG Industries, Inc. will post 7.98 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PPG Industries’s dividend payout ratio (DPR) is currently 42.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PPG. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $128.00 price objective on shares of PPG Industries in a report on Friday, October 9th. UBS Group lifted their target price on PPG Industries from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and boosted their target price for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Barclays upped their price target on shares of PPG Industries from $136.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, Citigroup raised their price target on shares of PPG Industries from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.29.

Insider Activity at PPG Industries

In other news, VP Chancey Hagerty sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total value of $317,850.00. Following the completion of the transaction, the vice president directly owned 9,761 shares in the company, valued at approximately $1,241,013.54. The trade was a 20.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

About PPG Industries

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.