PPG Industries, Inc. (NYSE:PPG) Shares Bought by SpiderRock Advisors LLC

SpiderRock Advisors LLC increased its stake in PPG Industries, Inc. (NYSE:PPGFree Report) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,259 shares of the specialty chemicals company’s stock after purchasing an additional 649 shares during the quarter. SpiderRock Advisors LLC’s holdings in PPG Industries were worth $962,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Connections Group Inc. bought a new position in shares of PPG Industries in the second quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the 3rd quarter valued at $34,000. Rothschild Investment LLC bought a new stake in shares of PPG Industries in the 2nd quarter worth $37,000. Hara Capital LLC acquired a new stake in shares of PPG Industries in the third quarter valued at $40,000. Finally, LRI Investments LLC boosted its stake in PPG Industries by 463.8% during the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after buying an additional 320 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

NYSE PPG opened at $125.52 on Monday. 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 $29.12 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26. The company has a 50 day simple moving average of $127.72 and a 200-day simple moving average of $128.03. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPGGet Free Report) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company earned $2.07 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PPG. KeyCorp cut their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada reduced their price objective 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. Finally, Bank of America cut their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

Read Our Latest Stock Analysis on PPG

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

About PPG Industries

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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