PPG Industries, Inc. (NYSE:PPG) Position Boosted by Mission Wealth Management LP

Mission Wealth Management LP lifted its holdings in PPG Industries, Inc. (NYSE:PPG) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,855 shares of the specialty chemicals company’s stock after purchasing an additional 305 shares during the period. Mission Wealth Management LP’s holdings in PPG Industries were worth $876,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of PPG Industries in the third quarter valued at $25,000. Valued Wealth Advisors LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at $28,000. Finally, Financial Connections Group Inc. acquired a new stake in PPG Industries during the 4th quarter worth about $30,000. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction 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 approximately $4,008,192.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by insiders.

PPG Industries Price Performance

NYSE PPG opened at $130.98 on Thursday. The company has a 50 day moving average price of $138.61 and a two-hundred day moving average price of $138.91. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89. The stock has a market capitalization of $30.71 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that PPG Industries, Inc. will post 8.45 earnings per share for the current fiscal year.

PPG Industries announced that its board has authorized a stock buyback plan on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

PPG Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent analyst reports. Wolfe Research began coverage on shares of PPG Industries in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Barclays decreased their target price on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Bank of America reduced their price objective on PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada lowered their target price on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, Robert W. Baird reissued an “outperform” rating and issued a $150.00 price target on shares of PPG Industries in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $155.47.

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.