CWA Asset Management Group LLC Makes New $1.01 Million Investment in PPG Industries, Inc. (NYSE:PPG)

CWA Asset Management Group LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,643 shares of the specialty chemicals company’s stock, valued at approximately $1,012,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vest Financial LLC lifted its holdings in shares of PPG Industries by 28.9% during the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after buying an additional 75,620 shares in the last quarter. BDF Gestion acquired a new stake in shares of PPG Industries during the second quarter worth $3,452,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of PPG Industries by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock worth $36,620,000 after buying an additional 22,079 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after buying an additional 4,222,402 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in shares of PPG Industries during the third quarter worth $604,000. 81.86% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PPG. Royal Bank of Canada dropped their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Citigroup dropped their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Barclays decreased their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Finally, KeyCorp decreased their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Performance

NYSE:PPG opened at $125.52 on Monday. The business has a 50 day moving average of $127.72 and a 200 day moving average of $128.03. The company has a market capitalization of $29.12 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.92 and a beta of 1.26. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.07 earnings per share. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

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.