Schnieders Capital Management LLC Takes $225,000 Position in PPG Industries, Inc. (NYSE:PPG)

Schnieders Capital Management LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, Holdings Channel reports. The fund bought 1,504 shares of the specialty chemicals company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. CWM LLC raised its holdings in PPG Industries by 11.9% in the third quarter. CWM LLC now owns 7,664 shares of the specialty chemicals company’s stock valued at $995,000 after acquiring an additional 814 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in PPG Industries by 25.0% in the third quarter. Arkadios Wealth Advisors now owns 1,863 shares of the specialty chemicals company’s stock valued at $242,000 after acquiring an additional 373 shares in the last quarter. Summit Global Investments raised its holdings in PPG Industries by 30.7% in the third quarter. Summit Global Investments now owns 2,189 shares of the specialty chemicals company’s stock valued at $284,000 after acquiring an additional 514 shares in the last quarter. Ziegler Capital Management LLC raised its holdings in shares of PPG Industries by 4.5% during the third quarter. Ziegler Capital Management LLC now owns 2,735 shares of the specialty chemicals company’s stock worth $355,000 after purchasing an additional 117 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in shares of PPG Industries by 5.0% during the third quarter. DAVENPORT & Co LLC now owns 5,316 shares of the specialty chemicals company’s stock worth $690,000 after purchasing an additional 253 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup dropped their target price on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $163.00 in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday. UBS Group dropped their price objective on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Redburn Atlantic cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries currently has an average rating of “Hold” and a consensus price target of $155.50.

PPG Industries Trading Up 0.1 %

PPG stock traded up $0.09 during mid-day trading on Wednesday, reaching $130.52. 1,642,353 shares of the stock traded hands, compared to its average volume of 1,783,702. The company has a current ratio of 1.55, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The company has a market cap of $30.61 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.57 and a beta of 1.28. The stock’s fifty day moving average is $140.00 and its 200-day moving average is $138.97.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting analysts’ consensus estimates of $1.86. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. As a group, sell-side analysts expect that PPG Industries, Inc. will post 8.47 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is 43.92%.

PPG Industries declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.