Moran Wealth Management LLC Has $5.36 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Moran Wealth Management LLC raised its stake in PPG Industries, Inc. (NYSE:PPG) by 16.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,020 shares of the specialty chemicals company’s stock after acquiring an additional 6,838 shares during the period. Moran Wealth Management LLC’s holdings in PPG Industries were worth $5,360,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PPG. LRI Investments LLC grew its stake in PPG Industries by 25.3% in the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock valued at $54,000 after acquiring an additional 92 shares during the period. Beacon Capital Management LLC raised its position in shares of PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 101 shares during the period. Snowden Capital Advisors LLC lifted its holdings in shares of PPG Industries by 3.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company’s stock valued at $376,000 after purchasing an additional 113 shares in the last quarter. CVA Family Office LLC grew its position in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 113 shares during the period. Finally, Warther Private Wealth LLC increased its stake in PPG Industries by 3.8% during the 1st quarter. Warther Private Wealth LLC now owns 3,090 shares of the specialty chemicals company’s stock worth $338,000 after purchasing an additional 114 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.5%

PPG stock opened at $113.33 on Thursday. The company has a market cap of $25.73 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 2.39 and a beta of 1.17. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The business has a 50 day moving average price of $109.37 and a two-hundred day moving average price of $112.68. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the business earned $1.87 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. Analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.40%. PPG Industries’s payout ratio is 58.24%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Fermium Researc upgraded shares of PPG Industries to a “strong-buy” rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of PPG Industries from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Royal Bank Of Canada upped their price objective on PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $129.83.

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.