Prospera Financial Services Inc Has $888,000 Stake in PPG Industries, Inc. (NYSE:PPG)

Prospera Financial Services Inc increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 3.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,701 shares of the specialty chemicals company’s stock after acquiring an additional 250 shares during the period. Prospera Financial Services Inc’s holdings in PPG Industries were worth $888,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new position in shares of PPG Industries during the second quarter worth $25,000. Capital Performance Advisors LLP acquired a new position in PPG Industries during the 3rd quarter worth about $34,000. Rothschild Investment LLC bought a new stake in shares of PPG Industries in the 2nd quarter valued at about $37,000. Hara Capital LLC acquired a new stake in shares of PPG Industries in the third quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of PPG Industries during the third quarter worth about $46,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of recent analyst reports. Mizuho decreased their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Royal Bank of Canada cut their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was 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 of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is owned by insiders.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $122.65 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The stock’s 50 day moving average is $127.00 and its 200-day moving average is $127.49. The firm has a market capitalization of $28.45 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.85 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued 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). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm 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 company earned $2.07 earnings per share. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that PPG Industries, Inc. will post 8.18 EPS 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. Stockholders 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 dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. 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.