Gen Wealth Partners Inc Increases Position in PPG Industries, Inc. (NYSE:PPG)

Gen Wealth Partners Inc grew its position in PPG Industries, Inc. (NYSE:PPG) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,347 shares of the specialty chemicals company’s stock after purchasing an additional 471 shares during the period. Gen Wealth Partners Inc’s holdings in PPG Industries were worth $519,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PPG. Vanguard Group Inc. lifted its holdings in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the period. Wellington Management Group LLP boosted its holdings in PPG Industries by 17.7% during the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after buying an additional 1,590,041 shares in the last quarter. Geode Capital Management LLC grew its position in PPG Industries by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company’s stock valued at $660,752,000 after buying an additional 93,455 shares during the period. Invesco Ltd. increased its holdings in PPG Industries by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company’s stock valued at $564,596,000 after buying an additional 271,699 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock worth $518,132,000 after acquiring an additional 3,592,655 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.7 %

Shares of NYSE:PPG opened at $109.32 on Friday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The firm’s 50-day moving average is $106.58 and its two-hundred day moving average is $115.59. The firm has a market capitalization of $24.82 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the company posted $1.87 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.49%. PPG Industries’s payout ratio is currently 58.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PPG shares. JPMorgan Chase & Co. reduced their price target on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.83.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by insiders.

About PPG Industries

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.