PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,185 shares of the specialty chemicals company’s stock after purchasing an additional 107 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PPG Industries were worth $1,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vest Financial LLC raised its holdings in PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares in the last quarter. BDF Gestion purchased a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $3,452,000. Equity Investment Corp raised its holdings in shares of PPG Industries by 7.0% in the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after purchasing an additional 42,380 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of PPG Industries during the 3rd quarter worth $604,000. Finally, Swedbank AB grew its stake in shares of PPG Industries by 6.3% during the second quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock worth $19,986,000 after purchasing an additional 9,412 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $123.37 on Wednesday. The company has a market capitalization of $28.62 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The firm has a 50-day simple moving average of $126.88 and a 200-day simple moving average of $127.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the business posted $2.07 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed 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 of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.20%. PPG Industries’s dividend payout ratio is currently 43.11%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PPG shares. Royal Bank of Canada decreased their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Mizuho decreased their target price 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. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is owned by insiders.

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.