Stephens Inc. AR Grows Position in PPG Industries, Inc. (NYSE:PPG)

Stephens Inc. AR lifted its stake in PPG Industries, Inc. (NYSE:PPG) by 3.7% in the 3rd quarter, Holdings Channel reports. The firm owned 11,534 shares of the specialty chemicals company’s stock after purchasing an additional 409 shares during the quarter. Stephens Inc. AR’s holdings in PPG Industries were worth $1,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Connections Group Inc. purchased a new position in PPG Industries in the 2nd quarter valued at approximately $25,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries during the 2nd quarter worth $37,000. LRI Investments LLC purchased a new stake in shares of PPG Industries in the 1st quarter worth about $53,000. DiNuzzo Private Wealth Inc. grew its stake in PPG Industries by 103.6% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock valued at $58,000 after acquiring an additional 203 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in PPG Industries during the 1st quarter valued at about $61,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. 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 report on Tuesday, October 22nd. KeyCorp decreased their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Mizuho reduced their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Buying and Selling

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 stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by corporate insiders.

PPG Industries Price Performance

PPG stock opened at $124.86 on Tuesday. The company has a market cap of $28.97 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $127.94 and a two-hundred day moving average price of $128.16. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG) last posted 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). The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.07 EPS. As a group, research analysts predict that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.18%. PPG Industries’s payout ratio is 43.11%.

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.